7 CFR 1962.8
§ 1962.8 Liens on real estate for additional security.
United States · 7 CFR — Agriculture · Status: effective
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- Citation
- 7 CFR 1962.8, § 1962.8 Liens on real estate for additional security, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/29331
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Full text
The County Supervisor may take the best lien obtainable on any real estate owned by the borrower, including any real estate which already serves as security for another loan. Additional liens will be taken only when the borrower is delinquent, the existing security is not adequate to protect Rural Development interests, and the borrower has substantial equity in the real estate to be mortgaged, and taking such mortgage will not prevent making a Rural Development real estate loan, if needed, later.
(a)-(b) [Reserved]
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.