(1) In the course of granting a debtor or endorser good forbearance, the lender should provide the new borrower otherwise endorser with advice so you’re able to assist the debtor or endorser inside knowing the feeling away from capitalization interesting to your mortgage prominent and you may complete notice to-be paid off over the lifetime of the borrowed funds; and you will
Should your lender identifies the loan does not qualify for discharge under (e)(1)(i)(C), it is nonetheless unenforceable, the lender have to adhere to (b)(2)(ix) and you may (d)(1)(viii)
(2) One or more times the 180 days throughout forbearance, the lender need certainly to get in touch with the newest debtor otherwise endorser to tell the latest debtor or endorser from –
(ii) The amount of the latest delinquent dominating equilibrium and you will people outstanding desire who has got accumulated on loan as history see offered on the borrower or endorser not as much as which part;
(iv) The amount of focus that’s capitalized, as of the fresh time of observe, therefore the day capitalization will occur;
(v) The option of the new debtor otherwise endorser to spend the attention that accumulated before the notice is capitalized; and