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e-CFR data is current as of June 30, 2020

Title 24Subtitle BChapter IISubchapter BPart 220Subpart B → §220.275


Title 24: Housing and Urban Development
PART 220—MORTGAGE INSURANCE AND INSURED IMPROVEMENT LOANS FOR URBAN RENEWAL AND CONCENTRATED DEVELOPMENT AREAS
Subpart B—Contract Rights and Obligations—Homes


§220.275   Method of paying insurance benefits.

If the application for insurance benefits is acceptable to the Commissioner, all of the insurance claim shall be paid in cash unless the mortgagee files a written request with the application for payment in debentures. If such a request is made, all of the claim shall be paid by issuing debentures and by making a cash payment adjusting any differences between the total amount of the claim and the amount of the debentures issued.

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