{"data":{"id":"us/24-cfr-232.840","jurisdiction":"us","citation":"24 CFR 232.840","heading":"Date of default.","body":"In computing loan insurance benefits, the date of default shall be considered as:\n(a) The date of the lender's acceleration of the debt because of the borrower's uncorrected failure to perform a covenant or obligation under the note or security instrument; or\n(b) The date of the first failure to make a monthly payment which subsequent payments by the borrower are insufficient to cover when applied to the overdue monthly payments in the order in which they become due.","path":["Title 24—Housing and Urban Development","Subtitle B—Regulations Relating to Housing and Urban Development","CHAPTER II—OFFICE OF ASSISTANT SECRETARY FOR HOUSING—FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT","SUBCHAPTER B—MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES","PART 232—MORTGAGE INSURANCE FOR NURSING HOMES, INTERMEDIATE CARE FACILITIES, BOARD AND CARE HOMES, AND ASSISTED LIVING FACILITIES","Subpart D—Contract Rights and Obligations"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-24.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:55Z","sha256":"a155786159dc56e382c44e3ba7829fae53c997a14ef49c32bded946ff6266aa3","source_id":"us-cfr","stale":true,"prev":"us/24-cfr-232.830","next":"us/24-cfr-232.850"},"notice":"GroundRules: Original legal text. Not legal advice."}