{"data":{"id":"us/24-cfr-241.1235","jurisdiction":"us","citation":"24 CFR 241.1235","heading":"Cross default.","body":"In the event the borrower commits a default under a prior recorded insured mortgage and the holder thereof initiates a foreclosure proceeding, said default under the prior recorded insured mortgage shall constitute a default under the equity or acquisition loan.","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 241—SUPPLEMENTARY FINANCING FOR INSURED PROJECT MORTGAGES","Subpart F—Insurance for Equity Loans and Acquisition Loans—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":"8f49339521f8ed1f07add357b0e136b81fa6f7cbcd9199fb763f6095006f5246","source_id":"us-cfr","stale":true,"prev":"us/24-cfr-241.1230","next":"us/24-cfr-241.1245"},"notice":"GroundRules: Original legal text. Not legal advice."}