---
kind: "section"
citation: "24 C.F.R. § 290.35"
title: "24"
number: "290.35"
heading: "Sale of HUD-held mortgages securing unsubsidized projects."
url: "https://uscodex.org/cfr/24/290.35"
---

# §290.35. Sale of HUD-held mortgages securing unsubsidized projects.


HUD's policy for selling HUD-held mortgages securing unsubsidized projects is as follows:

- (a) **Current mortgages—** may be sold with or without FHA mortgage insurance.
- (b) **Delinquent mortgages—** may be sold without FHA mortgage insurance. However, delinquent mortgages will not be sold if:
  - (1) HUD believes that foreclosure is unavoidable; and
  - (2) The project securing the mortgage is occupied by very low-income tenants who are not receiving housing assistance and would be likely to pay rent in excess of 30 percent of their adjusted monthly income if HUD sold the mortgage.

## Notes

### 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.