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Federal law — U.S. Code and appendices · legal_authorities
The Secretary of Housing and Urban Development may provide technical assistance and capacity building to further the preservation program established under this title.11 See References in Text note below.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4141
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Source file: Laws/federal/codes/united-states-code/title-12/section-4141-the-secretary-of-housing-and-urban-development-may-provide-technical-ass--e896f2afc6.md
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Source location: Title 12, Chapter 42, § 4141; chapter-042-low-income-housing-preservation-and-resident-homeownership.md
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Prepayment and termination** An owner of eligible low-income housing may prepay, and a mortgagee may accept prepayment of, a mortgage on such housing only in accordance with a plan of action approved by the Secretary under this subchapter or in accordance with [section 4114 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4114&num=0&edition=prelim). An insurance contract with respect to eligible low-income housing may be terminated pursuant to [section 1715t of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1715t&num=0&edition=prelim) only in accordance with a plan of action approved by the Secretary under this subchapter or in accordance with [section 4114 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4114&num=0&edition=prelim). **(b) Foreclosure** A mortgagee may foreclose the mortgage on, or acquire by deed in lieu of foreclosure, any eligible low-income housing project only if the mortgagee also conveys title to the project to the Secretary in connection with a claim for insurance benefits. **(c) Effect of unauthorized prepayment** Any prepayment of a mortgage on eligible low-income housing or termination of the mortgage insurance on such housing not in compliance with the provisions of this subchapter shall be null and void and any low-income affordability restrictions on the housing shall continue to apply to the housing.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4101
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Goals** The Secretary of Housing and Urban Development shall manage or dispose of multifamily housing projects that are owned by the Secretary or that are subject to a mortgage held by the Secretary in a manner that— (1) is consistent with the National Housing Act [[12 U.S.C. 1701](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1701&num=0&edition=prelim) et seq.] and this section; (2) will protect the financial interests of the Federal Government; and (3) will, in the least costly fashion among reasonable available alternatives, address the goals of— (A) preserving certain housing so that it can remain available to and affordable by low-income persons; (B) preserving and revitalizing residential neighborhoods; (C) maintaining existing housing stock in a decent, safe, and sanitary condition; (D) minimizing the involuntary displacement of tenants; (E) maintaining housing for the purpose of providing rental housing, cooperative housing, and homeownership opportunities for low-income persons; (F) minimizing the need to demolish multifamily housing projects; (G) supporting fair housing strategies; and (H) disposing of such projects in a manner consistent with local housing market conditions. In determining the manner in which a project is to be managed or disposed of, the Secretary may balance competing goals relating to individual projects in a manner that will further the purposes of this section. **(b) Definitions** For purposes of this section: (1) **Multifamily housing project** — The term “multifamily housing project” means any multifamily rental housing project which is, or prior to acquisition by the Secretary was, assisted or insured under the National Housing Act [[12 U.S.C. 1701](https://uscode.house.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1715z–4a
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Federal law — U.S. Code and appendices · legal_authorities
Page 1615 TITLE 12—BANKS AND BANKING § 4142 1 See References in Text note below. 1 See References in Text note below. for each of fiscal years 1991 and 1992 shall be available for grants under section 4111(d)(2) of this title, subject to approval in appropriations Acts.’’ § 4125. State preservation project assistance (1) In general Upon application by a State or local housing authority (including public housing agencies), the Secretary of Housing and Urban Develop- ment may make available, from sources of as- sistance appropriated to preserve the low and moderate income status of projects with expir- ing Federal use restrictions, assistance to such State or local housing authorities for use in pre- venting the loss of housing affordable for low and moderate income families that is assisted under a State program under the terms of which the owner may prepay a State assisted or sub- sidized mortgage on such housing. The applica- tion of the State or local housing authority shall demonstrate to the Secretary that the total amount of incentives provided to the owner to induce the owner to preserve the low and moderate income status of the project shall not exceed the level of incentives which may be provided to a similarly situated project with ex- piring Federal use restrictions under subtitle B of title II of the Housing and Community Devel- opment Act of 1987 [12 U.S.C. 4101 et seq.]. (2) Section 1437f Any assistance under section 1437f of title 42 made available pursuant to this section may be used (i) to supplement any assistance available on existing section 8 [42 U.S.C. 1437f] contracts, or (ii) to provide additional assistance to struc- tures to ensure that all units occupied by ten- ants who are lower income families (as such term is defi
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 4141
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