24 C.F.R. § 206.117 General.
Title 24 - Housing and Urban Development
The Secretary is required by statute to take any action necessary to provide a mortgagor with funds to which the mortgagor is entitled under the mortgage and which the mortgagor does not receive because of the default of the mortgagee. The Secretary may hold a second mortgage to secure repayment by the mortgagor under §206.27(d) or may accept assignment of the first mortgage. [61 FR 49033, Sept. 17, 1996]
Title 24: Housing and Urban Development
PART 206—HOME EQUITY CONVERSION MORTGAGE INSURANCE
Subpart C—Contract Rights and Obligations
HUD Responsibility to Mortgagors
§ 206.117 General.
