[Code of Federal Regulations]

[Title 24, Volume 4]

[Revised as of April 1, 2006]

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

[CITE: 24CFR882.405]



[Page 77]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

  CHAPTER VIII--OFFICE OF THE ASSISTANT SECRETARY FOR HOUSING-FEDERAL 

 

PART 882_SECTION 8 MODERATE REHABILITATION PROGRAMS--Table of Contents

 

 Subpart D_Special Procedures for Moderate Rehabilitation_Basic Policies

 

Sec.  882.405  Financing.



    (a) Types. Any type of public or private financing may be utilized 

with the exception of the rehabilitation loan program under Section 312 

of the Housing Act of 1964.

    (b) Use of Contract as security for financing. An Owner may pledge, 

or offer as security for any loan or obligation, an Agreement or 

Contract entered into pursuant to this Program, Provided That (1) such 

security is in connection with a unit(s) rehabilitated pursuant to this 

Program and (2) the terms of the financing or any refinancing must be 

approved by the PHA in accordance with standards provided by HUD. Any 

pledge of the Agreement or Contract, or payments thereunder, will be 

limited to the amounts payable under the Contract in accordance with its 

terms.