§3550.204. Payment assistance.
7 C.F.R. § 3550.204
Borrowers who are eligible may be offered payment assistance in accordance with subpart B of this part. Borrowers who are not eligible for payment assistance because the loan was approved before August 1, 1968, or the loan was made on above-moderate or nonprogram (NP) terms, may refinance the loan in order to obtain payment assistance if:
The borrower is eligible to receive a loan with payment assistance;
Due to circumstances beyond the borrower's control, the borrower is in danger of losing the property; and
The property is program-eligible.
Notes, amendments, and revision history
Authority
Authority: 5 U.S.C. 301; 42 U.S.C. 1480.
Source
Source: 61 FR 59779, Nov. 22, 1996, unless otherwise noted.