§ 206.32. No outstanding unpaid obligations.
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/us/cfr/t24/s§ 206.32·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In order for a mortgage to be eligible under this part, a borrower must establish to the satisfaction of the mortgagee that after the initial payment of loan proceeds under § 206.25(a), there will be no outstanding or unpaid obligations incurred by the borrower in connection with the mortgage transaction, except for mortgage servicing charges permitted under § 206.207(b) and any future Repair Set Aside established pursuant to § 206.19(f)(1); and the initial disbursement will not be used for any payment to or on behalf of an estate planning service firm.
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§ 206.32
No outstanding unpaid obligations.
Fed. Reg.×1
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