1. Regulations
  2. title 24
  3. chapter IX
  4. part 1005
  5. subpart H
  6. subjgrp 70
  7. § 1005.839

View all text of Subjgrp 70 [§ 1005.833 - § 1005.851]

§ 1005.839 - Payment of claim: interest on unpaid principal balance.

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.

AUTHORITY: 12 U.S.C. 1715z-13a; 15 U.S.C. 1639c; 42 U.S.C. 3535(d).

SOURCE: 89 FR 20056, Mar. 20, 2024; 89 FR 22084, Mar. 29, 2024, unless otherwise noted.

CITE AS: 24 CFR 1005.839