24 CFR 291.555 - Refinancing.

§ 291.555 Refinancing.
(a) General. A law enforcement officer, teacher, or firefighter/emergency medical technician may refinance the mortgage and note used to purchase the home. However, the total of the refinanced mortgage and the remaining principal balance of the second mortgage may not exceed 95 percent of the value of the property, as appraised at the time of the refinancing. Unless HUD permits subordination pursuant to paragraph (b) of this section, the second mortgage described in § 291.550 must hold a superior lien position to the refinanced mortgage.
(b) Subordination of second mortgage. HUD may permit subordination of the second mortgage to the refinanced mortgage, but only if HUD, at its sole discretion, determines that the refinancing will satisfy one of the following:
(1) Will result in a lower annual percentage rate (APR) on the first mortgage;
(2) Will be undertaken pursuant to HUD's Section 203(k) Rehabilitation Loan Insurance Program in order to rehabilitate or repair the home; or
(3) Is necessary to prevent the law enforcement officer, teacher, or firefighter/emergency medical technician from defaulting on the first mortgage.

Title 24 published on 2014-04-01

no entries appear in the Federal Register after this date.

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.


United States Code
U.S. Code: Title 12 - BANKS AND BANKING

§ 1701 - Short title

§ 1701a - Short title of amendment of 1938

§ 1701b - Short title of amendment of 1942

§ 1701c - Secretary of Housing and Urban Development

12 U.S. Code § 1439, 1439–1 - Repealed.

§ 1701d - Repealed.

12 U.S. Code § 1439, 1439–1 - Repealed.

12 U.S. Code § 1701d–1, 1701d–2 - Repealed.

12 U.S. Code § 1701d–1, 1701d–2 - Repealed.

§ 1701e, 1701f - Repealed.

12 U.S. Code § 1701e, 1701f - Repealed.

§ 1701g to 1701g–3 - Omitted

12 U.S. Code § 1701g to 1701g–3 - Omitted

12 U.S. Code § 1701g to 1701g–3 - Omitted

12 U.S. Code § 1701g–5a - Transfer of New Communities Fund assets and liabilities

12 U.S. Code § 1701g–5b - Liquidation of New Communities Program; cancellation of debt

12 U.S. Code § 1701g–5c - Transfer of rehabilitation loan fund assets and liabilities

§ 1701h - Advisory committees; payment of transportation and other expenses

12 U.S. Code § 1701g to 1701g–3 - Omitted

§ 1701i, 1701i–1 - Omitted

§ 1701j - Repealed. Aug. 2, 1954, ch. 649, title VIII,

12 U.S. Code § 1701i, 1701i–1 - Omitted

12 U.S. Code § 1701i, 1701i–1 - Omitted

12 U.S. Code § 1701i, 1701i–1 - Omitted

§ 1701k - Right to redeem property on which United States has lien

12 U.S. Code § -

12 U.S. Code § 1701i, 1701i–1 - Omitted

§ 1701m - Credit and cancellation of notes transferred from Reconstruction Finance Corporation; net loss computation

§ 1701n - Reduction of vulnerability of congested urban areas to enemy attack

12 U.S. Code § -

§ 1701p - Contents of report to President and Congress

12 U.S. Code § 1701i, 1701i–1 - Omitted

12 U.S. Code § 1701i, 1701i–1 - Omitted

§ 1701q - Supportive housing for the elderly

12 U.S. Code § 1701i, 1701i–1 - Omitted

12 U.S. Code § 1701i, 1701i–1 - Omitted

12 U.S. Code § 1701i, 1701i–1 - Omitted

§ 1701r - Congressional findings respecting housing for senior citizens

12 U.S. Code § 1701i, 1701i–1 - Omitted

§ 1701s - Rent supplement payments for qualified lower income families

§ 1701t - Congressional affirmation of national goal of decent homes and suitable living environment for American families

§ 1701u - Economic opportunities for low- and very low-income persons

§ 1701v - Congressional findings and declaration for improved architectural design in Government housing programs

§ 1701w - Budget, debt management, and related counseling services for mortgagors; authorization of appropriations

§ 1701x - Assistance with respect to housing for low- and moderate-income families

12 U.S. Code § 1701i, 1701i–1 - Omitted

12 U.S. Code § 1701i, 1701i–1 - Omitted

§ 1701y - National Homeownership Foundation

§ 1701z - New technologies in the development of housing for lower income families

12 U.S. Code § 1701i, 1701i–1 - Omitted

12 U.S. Code § 1701i, 1701i–1 - Omitted

12 U.S. Code § 1701i, 1701i–1 - Omitted

12 U.S. Code § 1701i, 1701i–1 - Omitted

12 U.S. Code § 1701i, 1701i–1 - Omitted

12 U.S. Code § 1701i, 1701i–1 - Omitted

12 U.S. Code § 1701i, 1701i–1 - Omitted

12 U.S. Code § 1701i, 1701i–1 - Omitted

12 U.S. Code § 1701i, 1701i–1 - Omitted

12 U.S. Code § 1701i, 1701i–1 - Omitted

12 U.S. Code § 1701z–10a - Biennial survey of economic and housing market conditions

12 U.S. Code § 1701i, 1701i–1 - Omitted

12 U.S. Code § 1701i, 1701i–1 - Omitted

12 U.S. Code § 1701i, 1701i–1 - Omitted

12 U.S. Code § 1701i, 1701i–1 - Omitted

12 U.S. Code § 1701i, 1701i–1 - Omitted

12 U.S. Code § 1701i, 1701i–1 - Omitted

12 U.S. Code § 1701i, 1701i–1 - Omitted

§ 1709 - Insurance of mortgages

§ 1715b - Rules and regulations

12 U.S. Code § 1750aa to 1750jj - Omitted

U.S. Code: Title 42 - THE PUBLIC HEALTH AND WELFARE