7 CFR 3550.156
§ 3550.156 Borrower obligations.
United States · 7 CFR — Agriculture · Status: effective
Cite this
- Citation
- 7 CFR 3550.156, § 3550.156 Borrower obligations, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/30276
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Full text
(a) After receiving a loan from RHS, borrowers are expected to meet a variety of obligations outlined in the loan documents. In addition to making timely payments, these obligations include:
(1) Maintaining the security property; and
(2) Maintaining an adequately funded escrow account, or paying real estate taxes, hazard and flood insurance, and other related costs when due.
(b) If a borrower fails to fulfill these obligations, RHS may obtain the needed service and charge the cost to the borrowers account.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.