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Code · CFR · Title 24 — Housing and Urban Development · Part 232 — Mortgage Insurance for Nursing Homes, Intermediate Care Facilities, Board and Care Homes, and Assisted Living Facilities · § 232.585

§ 232.585. Prepayment privilege and prepayment charge.

53 words·~1 min read·/us/cfr/t24/s§ 232.585·

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The security instrument shall contain a provision permitting prepayment of the loan in whole or in part upon any interest payment date after giving to the lender 30 days' advance written notice and it may contain a provision, with the approval of the Commissioner, for a reasonable charge in the event of prepayment.
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