LegalFix
Sign In

§ 266.648 - Items included in total loss.

Copy with citation
Copy as parenthetical citation

In computing the total loss, the following items are added to the amount described in § 266.646(a):

The amount of all payments that the HFA made from its own funds and not from project income for:

Taxes, special assessments, and water bills that are liens before the Mortgage; and

Fire and hazard insurance on the property.

A reasonable amount of acquisition costs actually paid by the HFA. These costs may not include loss or damage resulting from the invalidity or unenforceability of the Mortgage lien or the unmarketability of the Mortgagor's title.

Reasonable payments that the HFA made from its own funds and not from project income for:

Preservation, operation and maintenance of the property;

Repairs necessary to meet the requirements of local laws;

Expenses in connection with the sale of property; and

Bankruptcy expenses approved by the Office of General Counsel.

The amount of HFA Debenture interest paid by the HFA to HUD.

Previous Section
§ 266.646 - Determining the amount of loss.
Next Section
§ 266.650 - Items deducted from total loss.