Urban Redevelopment Authority of Pittsburgh
Loan Postponement
Guidelines and Application
In order to make an informed decision as to whether or not the URA is willing to postpone our mortgage or judgement lien in favor of another lender, we need the following information:
- Postponement application (Mortage Postponement Request) signed by all borrowers
- Completion of the application form with all pertinent information included
- Copy of current appraisal only if required by lender (TOTAL LOAN AMOUNTS CANNOT EXCEED APPRAISED VALUE)
The Mortgage Postponement Request must be completed and signed by you (the borrower.)
See Borrower Beware! to get the facts on home equity, mortgage refinancing, and debt equity loans.
After we have reviewed your application, we may require further information from the lending institution or you, i.e., mortgagee clause, HUD 101 Settlement Sheet & Good Faith Estimate, first mortgage payoff letter, home improvement estimates, and commitment letter from the lending institution confirming the loan terms. All property taxes must be current or be brought current at time of loan approval. No cash out is permitted.
As soon as all necessary information is received, we will inform you of our decision. If we agree to a postponement, you will be asked at that time to provide a document review and preparation fee made payable by cashier's check or money order to the URBAN REDEVELOPMENT AUTHORITY OF PITTSBURGH. This fee will be accepted from the borrower only.
Please know that postponements are done as a service to you, the borrower, and we are not obligated to do so in the event that it will jeopardize our loan security.