Title 24
SECTION 232.901
232.901 Mortgages covering existing projects are eligible for insurance.
§ 232.901 Mortgages covering existing projects are eligible for insurance.A mortgage executed in connection with the purchase or refinancing of an existing project without substantial rehabilitation may be insured under this subpart pursuant to section 223(f) of the Act. A mortgage insured pursuant to this subpart shall meet all other requirements of this part except as expressly modified by this subpart.
[59 FR 61228, Nov. 29, 1994]