---
kind: "section"
citation: "7 C.F.R. § 3550.202"
title: "7"
number: "3550.202"
heading: "Past due accounts."
url: "https://uscodex.org/cfr/7/3550.202"
---

# §3550.202. Past due accounts.


An account is past due if the scheduled payment is not received by the due date, or as authorized by State law.

- (a) **Late fee.** A late fee will be assessed if the full scheduled payment is not received by the 15th day after the due date.
- (b) **Liquidation—**
  - (1) **For borrowers with monthly payments.** The account may be accelerated without further servicing when at least 3 scheduled payments are past due or an amount equal to at least 2 scheduled payments is past due for at least 3 consecutive months. In such cases RHS may pursue voluntary liquidation and foreclosure.
  - (2) **For borrowers with annual payments.** The account may be accelerated without further servicing when at least 3/12 of 1 scheduled payment has not been received by its due date. In such cases, RHS may pursue voluntary liquidation and foreclosure.
  - (3) **Subsidy recapture.** Acceleration under this section will take into account any subsidy recapture due under [§ 3550.162](/cfr/7/3550.162.md).

## Notes

### Amendments

[61 FR 59779, Nov. 22, 1996, as amended at 77 FR 3379, Jan. 24, 2012]

### Authority

Authority: 5 U.S.C. 301; 42 U.S.C. 1480.

### Source

Source: 61 FR 59779, Nov. 22, 1996, unless otherwise noted.

### Amendments

[61 FR 59779, Nov. 22, 1996, as amended at 77 FR 3379, Jan. 24, 2012]