§4114. Permissible prepayment or voluntary termination and modification of commitments — Inbound Citations
12 U.S.C. § 4114
Cited by 2 provisions in release 119-102.
Citations to 12 U.S.C. § 4114 as a whole
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(a) An owner of eligible low-income housing may prepay, and a mortgagee may accept prepayment of, a mortgage on such housing only in accordance with a plan of action approved by the Secretary under this subchapter or in accordance with section 4114 of this title. An insurance contract with respect to eligible low-income housing may be terminated pursuant to section 1715t of this title only in accordance with a plan of action approved by the Secretary under this subchapter or in accordance with section 4114 of this title.
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(1) If the aggregate preservation rents for an eligible low-income housing project do not exceed the Federal cost limit, the owner may not prepay the mortgage on the housing or terminate the insurance contract with respect to the housing, except as permitted under section 4114 of this title. The owner may—(A) file a plan of action under section 4107 of this title to receive incentives under section 4109 of this title; or(B) file a second notice of intent under section 4106(d) of this title indicating an intention to transfer the housing under section 4110 of this title and take actions pursuant to such section.