24 CFR 242.43

§ 242.43 Application of cost savings.

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

Cite this

Citation: 24 CFR 242.43, § 242.43 Application of cost savings, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/100220
Permanent ID: ys:prov:100220@1
SHA-256: 83965e8e13590475fa10f85b6786c5c84bebee0317ff481ec61fd2aaa727053d

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Full text

At the sole discretion of HUD, any cost savings shall be used to: (a) Reduce the principal amount of the mortgage and the mortgagor's cash equity contribution proportionally, unless the mortgagor elects to have a greater portion of the savings used to reduce the mortgage; and/or (b) Fund any additional construction or substantial rehabilitation approved by HUD.

Legislative history

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