§764.205. Security requirements.
7 C.F.R. § 764.205
A Down payment loan must:
Be secured in accordance with §§ 764.103 through 764.106;
Be secured by a lien on the property being acquired with the loan funds and junior only to the party financing the balance of the purchase price.
Notes, amendments, and revision history
Amendments
[72 FR 63298, Nov. 8, 2007, as amended at 73 FR 74345, Dec. 8, 2008; 86 FR 43392, Aug. 9, 2021]
Authority
Authority: 5 U.S.C. 301 and 7 U.S.C. 1989.
Source
Source: 72 FR 63298, Nov. 8, 2007, unless otherwise noted.
Amendments
[72 FR 63298, Nov. 8, 2007, as amended at 73 FR 74345, Dec. 8, 2008; 86 FR 43392, Aug. 9, 2021]