24 CFR 232.585 - Prepayment privilege and prepayment charge.

Regulations last checked for updates: Nov 22, 2024

Title 24 - Housing and Urban Development last revised: Nov 13, 2024

View all text of Subpart C [§ 232.500 - § 232.630]

§ 232.585 - Prepayment privilege and prepayment charge.

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.

authority: 12 U.S.C. 1715b,1715w,1735d,and; 42 U.S.C. 3535(d)

source: 36 FR 24618, Dec. 22, 1971, unless otherwise noted.

cite as: 24 CFR 232.585