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Code · CFR · Title 24 — Housing and Urban Development · Part 290 — Disposition of Multifamily Projects and Sale of HUD-Held Multifamily Mortgages · § 290.35

§ 290.35. Sale of HUD-held mortgages securing unsubsidized projects.

90 words·~1 min read·/us/cfr/t24/s§ 290.35·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

HUD's policy for selling HUD-held mortgages securing unsubsidized projects is as follows:
(a)Current mortgages may be sold with or without FHA mortgage insurance.
(b)Delinquent mortgages may be sold without FHA mortgage insurance. However, delinquent mortgages will not be sold if:
(1)HUD believes that foreclosure is unavoidable; and
(2)The project securing the mortgage is occupied by very low-income tenants who are not receiving housing assistance and would be likely to pay rent in excess of 30 percent of their adjusted monthly income if HUD sold the mortgage.
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§ 290.35
Sale of HUD-held mortgages securing unsubsidized projects.
Fed. Reg.×11
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