§4108. Prepayment and voluntary termination — Inbound Citations

Citations to 12 U.S.C. § 4108 as a whole

• 12 U.S.C. § 4102(a)

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  (a) An owner of eligible low-income housing that intends to terminate the low-income affordability restrictions through prepayment or voluntary termination in accordance with section 4108 of this title, extend the low-income affordability restrictions of the housing in accordance with section 4109 of this title, or transfer the housing to a qualified purchaser in accordance with section 4110 of this title, shall file with the Secretary a notice indicating such intent in the form and manner as the Secretary shall prescribe.
• 12 U.S.C. § 4106(a)

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  (a) The Secretary shall provide each owner who submits a notice of intent to terminate the low-income affordability restrictions on the housing under section 4108 of this title with information under this section not later than 6 months after receipt of the notice of intent. The information shall include a description of the criteria for such termination specified under section 4108 of this title and the documentation required to satisfy such criteria.
• 12 U.S.C. § 4107(a)(1)

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  (1) Not later than 6 months after receipt of the information from the Secretary under section 4106 of this title an owner seeking to terminate the low-income affordability restrictions through prepayment of the mortgage or voluntary termination under section 4108 of this title, or to extend the low-income affordability restriction on the housing under section 4109 of this title, shall submit a plan of action to the Secretary in such form and manner as the Secretary shall prescribe. Any owner or purchaser seeking a transfer of the housing under section 4110 or 4111 of this title shall submit a plan of action under this section to the Secretary upon acceptance of a bona fide offer under section 4110(b) or (c) of this title or upon making of any bona fide offer under section 4111 of this title.
• 12 U.S.C. § 4107(b)(1)

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  (1) If the plan of action proposes to terminate the low-income affordability restrictions through prepayment or voluntary termination in accordance with section 4108 of this title, the plan shall include—

  (A) a description of any proposed changes in the status or terms of the mortgage or regulatory agreement;

  (B) a description of any proposed changes in the low-income affordability restrictions;

  (C) a description of any change in ownership that is related to prepayment or voluntary termination;

  (D) an assessment of the effect of the proposed changes on existing tenants;

  (E) an analysis of the effect of the proposed changes on the supply of housing affordable to low- and very low-income families or persons in the community within which the housing is located and in the area that the housing could reasonably be expected to serve; and

  (F) any other information that the Secretary determines is necessary to achieve the purposes of this title.¹