24 CFR 206.117 - General.
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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 published on 2014-04-01.
No entries appear in the Federal Register after this date, for 24 CFR Part 206.