# COMAR Title 05 — Department of Housing and Community Development

## Subtitle 03 — Homeownership Programs

### Chapter 04 — Downpayment and Settlement Expense Loan Program

#### Regulation .10 Default.

*COMAR 05.03.04.10*

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.