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e-CFR data is current as of July 9, 2020

Title 24Subtitle BChapter IISubchapter BPart 241Subpart F → §241.1215


Title 24: Housing and Urban Development
PART 241—SUPPLEMENTARY FINANCING FOR INSURED PROJECT MORTGAGES
Subpart F—Insurance for Equity Loans and Acquisition Loans—Contract Rights and Obligations


§241.1215   Calculation of insurance benefits.

All of the provisions of §207.259 of this chapter apply to subpart F of this part, except that if the lender, at the direction of the Commissioner, acquires title to the project at a foreclosure sale instituted by the holder of the senior insured mortgage, the amount of the claim determined under §207.259(c) of this chapter shall also include an amount bid by the lender to satisfy the senior insured mortgage at the foreclosure sale.

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