Wednesday, October 18, 2006

For Your Protection: Get a Home Inspection

It is my belief that all Martha's Vineyard homes being purchased should have a Home Inspection. I’m insistent that my Buyer Clients always have a Structural and Systems Inspection, no matter how old or new the house is. I even explain the procedure on my Website, as well as other Environmental Issues such as Radon and Mold. I have a list of Home Inspectors with related links along with other engineering services such as Radon testing on my Martha's Vineyard Island Service Providers page.

For your protection, please look at the revised HUD-92564-CN form, then read the Mortgagee Letter below from The Federal Housing Administration.

October 5, 2006



SUBJECT: Revision to form HUD–92564-CN, “For Your Protection: Get a Home

The Federal Housing Administration (FHA) has revised form HUD-92564-CN “For
Your Protection: Get a Home Inspection.” The purpose of this revision was to create a more conspicuous, easy-to-understand document that informs homebuyers of the availability and importance of getting an independent home inspection. The form also provides clarification of the differences between an appraisal and a home inspection and stresses the importance of radon testing.

Mortgagees are required to provide the document to prospective homebuyers at first contact, be it pre-qualification, pre-approval, or initial application. In any case, the mortgagee must provide the form to the prospective borrower no later than initial loan application. A copy of this revised form in a PDF file format is available online at

FHA has also eliminated the requirements that the form be signed by the purchaser and included in the case binder submitted to FHA with the mortgagee’s request for insurance endorsement. This Mortgagee Letter supercedes those portions of HUD Handbook 4165.1, Section 1-5, Table 1.1 Binder Assembly and Appendix XIX, Pre-Endorsement Review Checklist requiring the form to be included in the case binder. Additionally, this Mortgagee Letter rescinds, in their entirety, Mortgagee Letters 2004-04 and 2005-01. Mortgagees may use the revised form HUD-92564-CN immediately but must begin using the revised form for new loan applications taken after December 1, 2006. This Mortgagee Letter applies to FHA-insured forward mortgages only and not FHA-insured Home Equity Conversion Mortgages (HECM).

Color copies of this revised form will also be available free of charge through HUD’s Direct Distribution Center by telephone Monday through Friday from 8:00 AM to 5:15 PM ET via toll-free number 1-800-767-7468 by December 1, 2006. Online service orders can be placed 24 hours a day, seven days a week at HUD’s website When ordering online, follow the instructions provided and enter the Item ID number only. To order hard copies of the document in black and white print, the Item ID number is 6535. To order red and white colored copies of the document, the Item ID number is 7094.

Information Collection Requirements

The information collection requirements contained in this document have been approved by the Office of Management and Budget (OMB) under the Paperwork Reduction Act of 1995 (44 U.S.C. 3501-3520) and assigned OMB control number 2502-0538. In accordance with the Paperwork Reduction Act, HUD may not conduct or sponsor, and a person is not required to respond to, a collection of information unless the collection displays a currently valid OMB control number.

If you have any questions concerning this Mortgagee Letter, please contact the FHA Resource Center at (800) CALL-FHA or (800) 225-5342.


Brian D. Montgomery
Assistant Secretary for Housing-
Federal Housing Commissioner


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