Recapture.

CFR · 2024-01-01 · US · Title 7

(a) (b) (i) The amount of subsidy received; or (ii) A portion of the value appreciation of the property subject to recapture. In order for the value appreciation to be calculated, the borrower will provide a current appraisal, including an appraisal for any capital improvements, or arm's length sales contract as evidence of market value upon Agency request. Appraisals must meet Agency standards under § 3550.62. (2) (i) Recoverable costs (e.g. protective advances, foreclosure costs, late charges). (ii) Accrued interest. (iii) Principal. (iv) Subsidy. (3) (4) (c) (d) (2) When a loan is assumed under the same rates and terms as the original promissory note, recapture amounts will not be due. When the new borrower transfers title or ceases to occupy the property, all subsidy subject to recapture before and after the assumption is due. (3) When a borrower has deferred payment of recapture amounts, the deferred recapture amount may be included in the principal amount of the new loan.

official document · source cfr-2024 · id 7:§ 3550.162