GroundRules
7 CFR 1962.8: Liens on real estate for additional security.
Where this section sits in the code
- Title 7—Agriculture
- Subtitle B—Regulations of the Department of Agriculture
- CHAPTER XVIII—RURAL HOUSING SERVICE, RURAL BUSINESS-COOPERATIVE SERVICE, AND RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE
- SUBCHAPTER H—PROGRAM REGULATIONS
- PART 1962—PERSONAL PROPERTY
- Subpart A—Servicing and Liquidation of Chattel Security
The County Supervisor may take the best lien obtainable on any real estate owned by the borrower, including any real estate which already serves as security for another loan. Additional liens will be taken only when the borrower is delinquent, the existing security is not adequate to protect Rural Development interests, and the borrower has substantial equity in the real estate to be mortgaged, and taking such mortgage will not prevent making a Rural Development real estate loan, if needed, later.
(a)-(b) [Reserved]
Collected 2026-08-27T02:24:01Z. Source file · JSON