§ 232.901. Mortgages covering existing projects are eligible for insurance.
58 words·~1 min read·
/us/cfr/t24/s§ 232.901·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A mortgage executed in connection with the purchase or refinancing of an existing project without substantial rehabilitation may be insured under this subpart pursuant to section 223(f) of the Act. A mortgage insured pursuant to this subpart shall meet all other requirements of this part except as expressly modified by this subpart. \[59 FR 61228, Nov. 29, 1994\]