# COMAR Title 05 — Department of Housing and Community Development

## Subtitle 06 — Housing Insurance

### Chapter 07 — Community Housing Support Program

#### Regulation .08 Power of the Department.

*COMAR 05.06.07.08*

A. The Department may:

  (1) Assign a mortgage for value;

  (2) Release a mortgage;

  (3) Foreclose a mortgage;

  (4) Acquire property securing a loan in default;

  (5) Encumber, sell, or otherwise dispose of property acquired in connection with a loan in default; or

  (6) Obtain and seek enforcement of a deficiency judgment.

B. In the event of default, as provided in the loan documents, or in the event of a prospective default, the Department, in its sole discretion, may:

  (1) Modify the rate of interest;

  (2) Modify the time or amount of payment;

  (3) Modify the term of the loan;

  (4) Modify the loan in any other way in order to promote repayment of the loan and achieve the purpose of the Program; or

  (5) Accelerate the loan and foreclose on the deed of trust, or accept a deed in lieu of foreclosure.