Liquidation.

CFR · 2024-01-01 · US · Title 7

(a) (i) Selling the security under § 1962.41 of this subpart, (ii) Transferring the security under § 1962.34 of this subpart, (iii) Conveying the security to the agency under Subpart A of Part 1955 of this chapter, or (iv) Refinancing the debt with another lender. (2) (b) (2) (i) The District Director will accelerate all unmatured installments by using exhibits D, E, or E-1 of subpart A of part 1955 of this chapter except in cases referred to OGC for civil action, if the notice has previously been given. (ii) Exhibits D, E, or E-1 of subpart A of part 1955 of this chapter will be sent to the last known address of each obligor, with a copy to the Finance Office in those cases referred to OGC for civil action. County Office and Finance Office loan records will be adjusted to mature the entire indebtedness only. (3) (c) (d) (e) (i) Delinquent taxes or assessments that constitute prior liens which would be paid ahead of the Agency under § 1962.44(a) of this subpart. (ii) Premiums on insurance essential to protect Rural Development's interest, and (iii) Other costs including transportation necessary to protect or preserve the security. (2) However, such advances may not be made unless the amount advanced becomes a part of the debt secured by the Agency's lien, or is for expenses of administration of estates or for litigation. If a case is in the hands of the U.S. Attorney, such advances may not be made without the U.S. Attorney's concurrence. Moreover, such advances may not be mad

official document · source cfr-2024 · id 7:§ 1962.40