[Code of Federal Regulations]

[Title 24, Volume 1]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR27.5]



[Page 295]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

PART 27_NONJUDICIAL FORECLOSURE OF MULTIFAMILY AND SINGLE FAMILY MORTGAGES

--Table of Contents

 

       Subpart A_Nonjudicial Foreclosure of Multifamily Mortgages

 

Sec.  27.5  Prerequisites to foreclosure.



    Before commencement of a foreclosure under the Act and this subpart, 

HUD will provide to the mortgagor an opportunity informally to present 

reasons why the mortgage should not be foreclosed. Such opportunity may 

be provided before or after the designation of the foreclosure 

commissioner but before service of the notice of default and 

foreclosure.