PHOS Homeowners

If you have a forgivable loan or anticipate obtaining a forgivable loan, please read about Forgiveness, Payoff Request, Satisfactions and Subordinations. This section will provide you with information you need on:

  • The schedule for loan forgiveness (Forgiveness)
  • What to do if your home is no longer your primary residence or you cannot complete the terms of your loan (Payoff Request)
  • What to do if you wish to refinance your home (Refinance)
  • What to do if you sell or refinance your home and want to pay off the balance of your loan (Satisfaction)
  • What to do if you sell or refinance your home and want to keep your Enhanced Forgivable Loan (Subordination)