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Electronic Code of Federal Regulations

e-CFR data is current as of April 2, 2020

Title 24Subtitle BChapter IISubchapter BPart 232Subpart D → §232.850


Title 24: Housing and Urban Development
PART 232—MORTGAGE INSURANCE FOR NURSING HOMES, INTERMEDIATE CARE FACILITIES, BOARD AND CARE HOMES, AND ASSISTED LIVING FACILITIES
Subpart D—Contract Rights and Obligations


§232.850   Notice of default.

(a) If the default is not cured within the 30 day grace period, as defined in §232.830(c), the lender shall, within 30 days thereafter, notify the Commissioner in writing of such default.

(b) The lender shall give notice in writing to the Commissioner of the failure of the borrower to comply with any covenant or obligation under the security instrument or note regardless of the fact that the lender may not have elected to accelerate the debt.

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