257.104—Eligible mortgages.
A mortgage eligible to be refinanced under section 257 of the Act must:
(a)
Have been originated on or before January 1, 2008.
(b)
Be secured by a property that is:
(1)
Owned and occupied by the mortgagor as his or her primary residence; and
(2)
The only residence in which the mortgagor has any present ownership interest, except for property acquired by the mortgagor through inheritance.
(c)
Meet such other requirements as HUD may adopt.