24 CFR 291.555 - Refinancing.

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§ 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.

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

§ 1701c-1

§ 1701d - Repealed. Pub. L. 89–554, § 8(a), Sept. 6, 1966, 80 Stat. 655

§ 1701d-1

§ 1701d-3

§ 1701d-4

§ 1701e, 1701f - Repealed. Pub. L. 91–609, title V, § 503(1), Dec. 31, 1970, 84 Stat. 1785

§ 1701f-1

§ 1701g to 1701g–3 - Omitted

§ 1701g-4

§ 1701g-5

§ 1701g-5a

§ 1701g-5b

§ 1701g-5c

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

§ 1701h-1

§ 1701i, 1701i–1 - Omitted

§ 1701j - Repealed. Aug. 2, 1954, ch. 649, title VIII, § 813, 68 Stat. 647

§ 1701j-1

§ 1701j-2

§ 1701j-3

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

§ 1701l - Limitation on interest rates of insured mortgages; terms of sales

§ 1701l-1

§ 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

§ 1701o - Annual report of Secretary

§ 1701p - Contents of report to President and Congress

§ 1701p-1

§ 1701p-2

§ 1701q - Supportive housing for the elderly

§ 1701q-1

§ 1701q-2

§ 1701q-3

§ 1701r - Congressional findings respecting housing for senior citizens

§ 1701r-1

§ 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

§ 1701x-1

§ 1701x-2

§ 1701y - National Homeownership Foundation

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

§ 1701z-1

§ 1701z-2

§ 1701z-3

§ 1701z-4

§ 1701z-5

§ 1701z-6

§ 1701z-7

§ 1701z-8

§ 1701z-9

§ 1701z-10

§ 1701z-10a

§ 1701z-11

§ 1701z-12

§ 1701z-13

§ 1701z-14

§ 1701z-15

§ 1701z-16

§ 1701z-17

§ 1709 - Insurance of mortgages

§ 1715b - Rules and regulations

§ 1751b

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

Title 24 published on 2015-04-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 24 CFR Part 291 after this date.

  • 2015-10-02; vol. 80 # 191 - Friday, October 2, 2015
    1. 80 FR 59690 - Disposition of HUD-Acquired Single Family Properties; Updating HUD's Single Family Property Disposition Regulations
      GPO FDSys XML | Text
      DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, HUD, Office of the Assistant Secretary for Housing—Federal Housing Commissioner
      Proposed rule.
      Comment Due Date: December 1, 2015.
      24 CFR Part 291