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

Title 24Subtitle BChapter IISubchapter BPart 248Subpart C → §248.219


Title 24: Housing and Urban Development
PART 248—PREPAYMENT OF LOW INCOME HOUSING MORTGAGES
Subpart C—Prepayment and Plans of Action Under the Emergency Low Income Preservation Act of 1987


§248.219   Notification of approval.

(a) Not later than 180 days after initial receipt of a plan of action, or within such longer period as the owner requests, the Commissioner shall notify the owner in writing whether the plan of action, including any revisions, is approved.

(b) If approval is withheld, the notice will—

(1) Describe the reasons for withholding approval, including prolonged delay by the owner in submitting a revised plan of action;

(2) Describe the actions that could be taken to meet the criteria for approval; and

(3) Afford the owner a reasonable opportunity to revise the plan of action and seek approval.

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