B if an interest credit agreement was not in effect

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(B)  If an interest credit agreement was not in effect  when the account was accelerated, the effective date will be the date foreclosure action was withdrawn. (C)  For MFH loans with rental assistance, after  acceleration and after any appeal or review has been  concluded, rental assistance will be suspended if  foreclosure is to continue.  If the account is  reinstated, the rental assistance will be reinstated  retroactively to the date of suspension.  In the interim, the tenants will continue rental payments in accordance  with their leases, and all rental rates and lease  renewals and provisions will be continued as if  acceleration had not taken place.  (Revised 08-20-93,  SPECIAL PN.) (4)  Statement of account .  If a statement of account is required  for foreclosure proceedings, Form RD 451-10, "Request for Statement of Account," will be processed in accordance with the FMI.  When an official statement of account is not required, account balances and recapture information may be obtained from the field office  terminal. (5)  Appeals .  All appeals will be handled pursuant to Subpart B of Part 1900 of this chapter.  Foreclosure actions will be held in  abeyance while an appeal is pending.  No case will be referred to  OGC for processing of foreclosure until a borrower's appeal and  appeal review have been concluded, or until the time has elapsed  during which an appeal or a request for review may be made.  In  Farmer Programs cases, (except graduation cases under Subpart F of  Part 1951 of this chapter), the borrower must have received the  appropriate notices and consideration for primary loan servicing  per Subpart S of Part 1951 of this chapter.  Any Farmer Programs  cases involving appeals may be accelerated after all primary loan  servicing options have been considered and all related appeals  concluded, but will not be submitted to OGC for foreclosure action  until all appeals related to any preservation rights have been  concluded. (Revised 11-03-93, SPECIAL PN.) 25 (Revision 3) (10-14-88)  SPECIAL PN
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RD Instruction 1955-A §1955.15 (d) (Con.) (6)  Petition in bankruptcy filed by borrower after acceleration of account . (i)  When bankruptcy is filed after an account has been  accelerated, any foreclosure action initiated by Rural  Development must be suspended until:  (Revised 12-16-92, PN  196.) (A)  The bankruptcy case is dismissed or closed (a  discharge of debtor does not close the case); (B)  An Order lifting the automatic stay is obtained from the Bankruptcy Court; or (C)  The property is no longer property of the bankruptcy estate and  the borrower has received a discharge.
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  • Summer '17
  • allen dasu
  • Government, Trigraph, official., voluntary conveyance, RD Instruction 1955­A

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