24 C.F.R. § 290.35 Sale of HUD-held mortgages securing unsubsidized projects.
Title 24 - Housing and Urban Development
HUD's policy for selling HUD-held mortgages securing unsubsidized projects is as follows: (a) Current mortgages may be sold with or without FHA mortgage insurance. (b) Delinquent mortgages may be sold without FHA mortgage insurance. However, delinquent mortgages will not be sold if: (1) HUD believes that foreclosure is unavoidable; and (2) The project securing the mortgage is occupied by very low-income tenants who are not receiving housing assistance and would be likely to pay rent in excess of 30 percent of their adjusted monthly income if HUD sold the mortgage.
Title 24: Housing and Urban Development
PART 290—DISPOSITION OF MULTIFAMILY PROJECTS AND SALE OF HUD-HELD MULTIFAMILY MORTGAGES
Subpart B—Sale of HUD-Held Multifamily Mortgages
§ 290.35 Sale of HUD-held mortgages securing unsubsidized projects.
