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e-CFR data is current as of July 10, 2020

Title 24Subtitle BChapter IISubchapter BPart 220Subpart D → §220.811


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


§220.811   Date of default.

For the purposes of §§220.800 et seq., the date of default shall be considered as:

(a) The date of the first uncorrected failure to perform a covenant or obligation under the note or security instrument; or

(b) The date of the first failure to make a monthly payment which subsequent payments by the borrower are insufficient to cover when applied to the overdue monthly payments in the order in which they became due.

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