10 Tex. Admin. Code § 28.7

Current through Reg. 49, No. 50; December 13, 2024

Section 28.7 - Resale of the Residence

Mortgage Loans that are financed with the proceeds of tax-exempt bonds, or for which a Mortgage Credit Certificate has been or will be issued, will be subject to federal income tax recapture provisions. Assumption of a Mortgage Loan is allowed under the Program if the new owner meets the Program requirements at the time of the sale of the Residence.

The provisions of this §28.7 adopted to be effective October 30, 2012, 37 TexReg 8504; Adopted by Texas Register, Volume 45, Number 05, January 31, 2020, TexReg 747, eff. 2/5/2020; Adopted by Texas Register, Volume 47, Number 08, February 25, 2022, TexReg 0907, eff. 3/3/2022