Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 7 - Agriculture |
Subtitle B - Regulations of the Department of Agriculture |
Chapter XXXV - Rural Housing Service, Department of Agriculture |
Part 3550 - Direct Single Family Housing Loans and Grants |
Subpart C - Section 504 Origination and Section 306C Water and Waste Disposal Grants |
§ 3550.109 - Escrow account (loans only).
Latest version.
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§ 3550.109 Escrow account (loans only).
RHS may require that borrowers deposit into an escrow account amounts necessary to ensure that the account will contain sufficient funds to pay real estate taxes, hazard and flood insurance premiums, and other related costs when they are due in accordance with the Real Estate Settlement and Procedures Act of 1974 (RESPA) and section 501(e) of the Housing Act of 1949, as amended.