40 Tex. Admin. Code § 175.61 - Delinquencies, Acceleration and Foreclosures
(a) The chairman is authorized to enter into
any modification of the debtor's obligation if it is in the best interest of
the program.
(b) The terms of each
note and deed for trust or any other lien document shall determine acceleration
and foreclosure requirements and procedures, unless modified under section (a)
of this section.
(c) The chairman
must approve the initiation of all foreclosure proceedings. All foreclosures
shall be conducted in strict compliance with applicable federal and state laws
and the note and the deed of trust or other lien document, or any modification
thereof.
Notes
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