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Setup Instructions |
To: Lenders, Holders, and Servicers Participating in the Health Loan (HEAL) Program
Subject: Judgments
secured against HEAL borrowers
Lender Policy Memorandum L-1998-2
All Judgments secured against HEAL borrowers dated on or after January 1998 must:
(i) be in an amount sufficient to cover the total balance (principal and interest) due as of the date of judgment;
(ii) have a continuing interest clause which provides for post-judgment interest;
(iii) and specify applicable post-judgment interest rate.
Any judgment which does not comply with the above requirements must be amended at the lender/holder/servicer's expense before the HEAL Program will pay a claim. The HEAL Program will pay interest only through the date of the original judgment. No interest will be paid from the date of the original judgment to the date of the amended judgment.
If you have any questions regarding this memorandum, please contact Dr. Ram B. Jain, Chief HEAL Program Operations at (301) 443-1540 or RJain@HRSA.DHHS.GOV
