---
kind: "section"
citation: "12 U.S.C. § 4102"
title: "12"
title_heading: "Banks and Banking"
number: "4102"
heading: "Notice of intent"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/4102"
units:
  - "Chapter 42 — Low-Income Housing Preservation and Resident Homeownership"
  - "Subchapter I — Prepayment of Mortgages Insured under National Housing Act"
---

# §4102. Notice of intent

- (a) **Filing with Secretary—** An [owner](/usc/12/4119.md?p=7) of [eligible low-income housing](/usc/12/4119.md?p=1) that intends to terminate the [low-income affordability restrictions](/usc/12/4119.md?p=3) through prepayment or voluntary termination in accordance with [section 4108 of this title](/usc/12/4108.md), extend the [low-income affordability restrictions](/usc/12/4119.md?p=3) of the housing in accordance with [section 4109 of this title](/usc/12/4109.md), or transfer the housing to a [qualified purchaser](/usc/12/4121.md?p=b) in accordance with [section 4110 of this title](/usc/12/4110.md), shall file with the [Secretary](/usc/12/4119.md?p=10) a notice indicating such intent in the form and manner as the [Secretary](/usc/12/4119.md?p=10) shall prescribe.
- (b) **Filing with State or local government, tenants, and mortgagee—** The [owner](/usc/12/4119.md?p=7), upon filing a notice of intent under this section, shall simultaneously file the notice of intent with the chief executive officer of the appropriate [State](/usc/12/1707.md?p=d) or local government for the jurisdiction within which the housing is located and with the [mortgagee](/usc/12/1707.md?p=b), and shall inform the tenants of the housing of the filing.
- (c) **Ineligibility for filing—** An [owner](/usc/12/4119.md?p=7) shall not be eligible to file a notice of intent under this section if the [mortgage](/usc/12/1707.md?p=a) covering the housing—
  - (1) falls into default on or after November 28, 1990; or
  - (2)
    - (A) fell into default before, but is current as of, November 28, 1990; and
    - (B) the [owner](/usc/12/4119.md?p=7) does not agree to recompense the appropriate Insurance Fund, in the amount the [Secretary](/usc/12/4119.md?p=10) determines appropriate, for any losses sustained by the Fund as a result of any work-out or other arrangement agreed to by the [Secretary](/usc/12/4119.md?p=10) and the [owner](/usc/12/4119.md?p=7) with respect to the defaulted [mortgage](/usc/12/1707.md?p=a).

  The [Secretary](/usc/12/4119.md?p=10) shall carry out this subsection in a manner consistent with the provisions of [section 1701z–11 of this title](/usc/12/1701z–11.md).


## Source credit

(Pub. L. 100–242, title II, § 212, as added Pub. L. 101–625, title VI, § 601(a), Nov. 28, 1990, 104 Stat. 4249.)