Code of Federal Regulations (alpha)

CFR /  Title 24  /  Part 203  /  Sec. 203.412 Payment for foreclosure alternative actions.

Notwithstanding the conveyance, sale, or assignment requirements for payment of a claim elsewhere in this part, HUD may pay the mortgagee, in accordance with procedures prescribed by HUD, for the following foreclosure alternative actions, in such amounts as HUD determines:

(a) Assumptions under Sec. 203.512;

(b) Special forbearance under Sec. Sec. 203.471 and 203.614;

(c) Recasting or modification of defaulted mortgages under Sec. 203.616, where the mortgagee is not reimbursed under Sec. 203.405(a);

(d) Refinancing under Sec. 203.43(c). [61 FR 35019, July 3, 1996] Sec. 203.413 [Reserved]