Borrower obligations.

CFR · 2024-01-01 · US · Title 7

(a) After receiving a loan from RHS, borrowers are expected to meet a variety of obligations outlined in the loan documents. In addition to making timely payments, these obligations include: (1) Maintaining the security property; and (2) Maintaining an adequately funded escrow account, or paying real estate taxes, hazard and flood insurance, and other related costs when due. (b) If a borrower fails to fulfill these obligations, RHS may obtain the needed service and charge the cost to the borrowers account.

official document · source cfr-2024 · id 7:§ 3550.156