Regulation .10 Default.
Regulation .10 Default.LinkCopy Citation
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.