24 CFR 241.1235

§ 241.1235 Cross default.

United States · 24 CFR — Housing and Urban Development · Status: effective

Cite this

Citation: 24 CFR 241.1235, § 241.1235 Cross default, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/100173
Permanent ID: ys:prov:100173@1
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Full text

In the event the borrower commits a default under a prior recorded insured mortgage and the holder thereof initiates a foreclosure proceeding, said default under the prior recorded insured mortgage shall constitute a default under the equity or acquisition loan.

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.