Skip to main content
DRAFT FOR ATTORNEY REVIEW — NOT FINAL

Section 205

Citation
Section 205 5.
Parent Document
Cole v. Harris, 187 U.S. App. D.C. 156 (1977)
Effective Date
1977-11-14

Other Sections in This Document (158)

Full Text

405 chars
5. Under HUD Regulations, when a project is in default, the mortgagee has the option of either foreclosing the mortgage or assigning it to HUD. By letter dated April 4, 1973, Walker and Dunlop informed the Area Office that it had elected under the terms of the contract for mortgage insurance to foreclose on the property. A copy of this letter is attached hereto as Exhibit II and is incorporated herein.