HUD 90041 Request for Variance

U. S. Department of Housing
and Urban Development
Office of Housing
Federal Housing Commissioner

Request for Variance
Pre-foreclosure Sale Procedure

OMB Approval No. 2502­0589
(exp. 03/31/2013)

Public reporting burden for this collection of information is estimated to average 15 minutes per response, including the time for reviewing instructions,
searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. This information is
required to obtain benefits. HUD may not collect this information, and you are not required to complete this form, unless it displays a currently valid OMB
control number.
Section 1064 of the Stewart B. McKinney Homeless Assistance Amendments Act of 1988 authorizes the Secretary to pay an insurance claim that “bridges the
gap” between the fair market value proceeds from the HUD-approved third party sale of a property. The respondents are lenders, counselors, and
homeowners who are attempting to sell their properties prior to foreclosure. The Privacy Act of 1974 pledges assurances of confidentiality to respondents.
HUD generally discloses this data only in response to a Freedom of Information request.
Mortgagee Name and ID No.:

Date of Request Name & Telephone No. of Contact Person:

Homeowner's Name

FHA Case Number

Property Address:

Homeowner's Name

Mark one, as appropriate: The following variance is requested, for reason indicated below:

Approval of the subject homeowner’s participation in the Pre-foreclosure Sale procedure has been withheld because the “as-is” appraised
value of the property is less than the required 70 percent of the outstanding unpaid balance.
A copy of the appraisal is attached.
“AS-IS” Appraised Value

Outstanding Debt

$

$

Ratio of "AS -IS” Appraised Value
to outstanding debt (as percent)

%

Approval of a proposed contract of sale has been withheld because the estimated net sale proceeds are less than the required 82 percent
of the "as-is" appraised value of the subject property.
A copy of the HUD-1 is attached.
“AS-IS” Appraised Value

Gross Sales Price

Estimated Net Sales roceeds

$

$

$

Ratio of estimated Net Sale Proceeds to
"AS-IS" appraised value (as percent)

%

Request variance from other criterion (identify the criterion) __________________________________________________________
__________________________________________________________________________________________________________
__________________________________________________________________________________________________________
Jusification for requesting HUD approval of this variance from customary Pre-foreclosure Sale procedure:

Local HUD Office Response:

Comments ( if any):

Granted
Denied

Signature & Title of HUD Official:

Date

form HUD-90041 (06/2003)
ref. Handbook 4330.1