January 10, 2022

form update: modifications

CHFA has updated CHFA Form 205: Modification of Promissory Note and/or Deed of Trust to better delineate whether the modification is to the Note and/or the Deed of Trust.

Additionally, Form 205 expands authorizations of the named lender to act as the borrower’s attorney-in-fact for the purpose of:

inserting information in the Modification regarding the date of the Note and/or date and recording of the Deed of Trust; and
correcting related scrivener’s errors including those relating to the applicable lender’s name in the Modification.

Such insertions or corrections may be made prior to or following the execution and notarization of the Modification.

Please follow the detailed instructions when completing the form, as errors only slow down the process. Pay attention to names and dates, as all information must match. Upon completion, email the Modification and copy of the recorded Deed of Trust to the CHFA Loan Analyst listed on the CHFA Suspend Letter for approval prior to obtaining borrower’s signatures. Once approved by CHFA, Modifications must be signed and notarized. CHFA will require original Modifications and will not accept copies.

CHFA Form 205 is now available in HomeConnection^sm and on the CHFA website.

Please contact CHFA Home Finance with any questions regarding these changes.

CHFA Home Finance
Homeownership@chfainfo.com
303.297.7376 or 888.320.3688 Denver
970.241.2341 or 800.877.8450 Western Slope

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