rural-development · Rural Housing Service · Rule · Published 2012-01-24 · Effective 2012-02-23 · 77 FR 3377
Document
Document number
2012-1268
Federal Register citation
77 FR 3377
CFR reference
7 CFR 3550
Type
Rule
Action
Final rule.
Category
rural-development
Sub-agency
Rural Housing Service
Publication date
2012-01-24
Effective date
2012-02-23
Abstract
Through this action, the Rural Housing Service (RHS) amends its regulations for the Direct Single Family Housing Loans by reinstating language in the Single Family Housing (SFH) recapture regulation to enable full repayment of the entire subsidy in event of foreclosure or deed-in-lieu of foreclosure (voluntary conveyance). This action clarifies that in the event of foreclosure or deed-in-lieu of foreclosure (voluntary conveyance) the RHS will recapture the full subsidy from the value of the property.