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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 24 - Housing and Urban Development |
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Subtitle B - Regulations Relating to Housing and Urban Development |
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Chapter II - Office of Assistant Secretary for Housing - Federal Housing Commissioner, Department of Housing and Urban Development |
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SubChapter B - Mortgage and Loan Insurance Programs Under National Housing Act and Other Authorities |
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Part 232 - Mortgage Insurance for Nursing Homes, Intermediate Care Facilities, Board and Care Homes, and Assisted Living Facilities |
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Subpart D - Contract Rights and Obligations |
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Rights and Duties of Lender Under the Contract of Insurance |
§ 232.860 - Commissioner's right to require acceleration.
Latest version.
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§ 232.860 Commissioner's right to require acceleration.
Upon receipt of notice of the failure of the borrower to comply with any covenant or obligation under the security instrument or note, or otherwise being apprised thereof, the Commissioner may require the lender to accelerate payment of the outstanding principal balance due.