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The Code of Federal Regulations (CFR) annual edition is the codification of the general and permanent rules published in the Federal Register by the departments and agencies of the Federal Government produced by the Office of the Federal Register (OFR) and the Government Publishing Office.

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Title 24Subtitle BChapter IISubchapter BPart 203Subpart B → §203.412

Title 24: Housing and Urban Development
Subpart B—Contract Rights and Obligations

§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 §203.512;

(b) Special forbearance under §§203.471 and 203.614;

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

(d) Refinancing under §203.43(c).

[61 FR 35019, July 3, 1996]

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