---
kind: "section"
citation: "24 C.F.R. § 241.1235"
title: "24"
number: "241.1235"
heading: "Cross default."
url: "https://uscodex.org/cfr/24/241.1235"
---

# §241.1235. Cross default.


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.


## Notes

### Source

Source: 57 FR 12040, Apr. 8, 1992, unless otherwise noted.

### Authority

Authority: 12 U.S.C. 1715b, 1715z-6, and 1735d; 42 U.S.C. 3535(d).

### Source

Source: 36 FR 24653, Dec. 22, 1971, unless otherwise noted.