After receiving a loan from RHS, borrowers are expected to meet a variety of obligations outlined in the loan documents. In addition to making timely payments, these obligations include:
Maintaining the security property; and
Maintaining an adequately funded escrow account, or paying real estate taxes, hazard and flood insurance, and other related costs when due.
If a borrower fails to fulfill these obligations, RHS may obtain the needed service and charge the cost to the borrowers account.
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