§290.18. Restrictions on sale to former mortgagors.
24 C.F.R. § 290.18
The defaulting mortgagor, or any principal, successor, affiliate, or assignee thereof, on the mortgage on the property at the time of the default resulting in acquisition of the property by HUD shall not be eligible to purchase the property. A “principal” and an “affiliate” are defined as provided at 24 CFR 24.105.
Notes, amendments, and revision history
Amendments
[66 FR 35847, July 9, 2001]
Authority
Authority: 12 U.S.C. 1701z-11, 1701z-12, 1713, 1715b, 1715z-1b, 1715z-11a; 42 U.S.C. 3535(d) and 3535(i).
Source
Source: 61 FR 11685, Mar. 21, 1996, unless otherwise noted.
Amendments
[66 FR 35847, July 9, 2001]