Cal. Health and Safety Code § 51659
Cal. Health and Safety Code § 51659
California · California Health and Safety Code · Status: effective · Effective 1993-07-15
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- Citation
- Cal. Health and Safety Code § 51659, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/869999
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Full text
In the event of a default on an insured loan not secured by a first mortgage, the agency may, in lieu of proceeding under Section 51658, acquire the insured loan and any security therefor upon payment to the approved lending institution of an amount equal to the unpaid principal balance of the loan, accrued interest, and other costs that the agency finds are fair, reasonable, and authorized.