Md. Code Regs. 05.03.04.10

Current through Register Vol. 51, No. 24, December 2, 2024

Section 05.03.04.10 - Default

In the event of default, as provided in the legal documents, the Department may:

A. Modify the rate of interest;

B. Defer payment of principal, interest, or both;

C. Modify the term of the loan;

D. Modify the loan in any other way in order to promote repayment of the loan and achieve the purposes of the Program; or

E. Foreclose the loan or accept a deed instead of foreclosure.

Md. Code Regs. 05.03.04.10

Regulations .10 adopted as an emergency provision effective December 13, 1988 (15:27 Md. R. 3114); emergency status extended at 16:12 Md. R. 1331; emergency status expired October 31, 1989
Regulations .10 adopted effective December 11, 1989 (16:24 Md. R. 2616)