24 CFR 241.860 - Commissioner's right to require acceleration.

Regulations last checked for updates: Mar 13, 2025

Title 24 - Housing and Urban Development last revised: Mar 03, 2025

View all text of Subpart D [§ 241.800 - § 241.905]

§ 241.860 - Commissioner's right to require acceleration.

Upon receipt of notice of the failure of the borrower to comply with any covenant or obligation under the security instrument or note, or under the conventional note and mortgage, the Commissioner may require the lender to accelerate payment of the outstanding principal balance due.

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

source: 36 FR 24653, Dec. 22, 1971, unless otherwise noted.

cite as: 24 CFR 241.860