§ 1005.839. Payment of claim: interest on unpaid principal balance.
73 words·~1 min read·
/us/cfr/t24/s§ 1005.839·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
HUD shall pay interest on the unpaid principal balance from the date of default to the earlier of the following:
(a)The execution of deed-in-lieu/lease-in-lieu of foreclosure;
(b)The execution of the conveyance to either Holder, HUD or a third-party;
(c)The execution of the assignment of the Section 184 Guaranteed Loan to HUD;
(d)The expiration of the reasonable diligence timeframe; or
(e)Other event as prescribed by Section 184 Program Guidance.