24 CFR 880.506 - Default by owner (private-owner/HUD and PHA-owner/HUD projects).
The Contract will provide:
(a) That if HUD determines that the owner is in default under the Contract, HUD will notify the owner and the lender of the actions required to be taken to cure the default and of the remedies to be applied by HUD including specific performance under the Contract, reduction or suspension of housing assistance payments and recovery of overpayments, where appropriate; and
Title 24 published on 2014-04-01
no entries appear in the Federal Register after this date.