Mortgage Reserve Fund

Mortgage Reserve Fund means a trust account, or an account held by the mortgagee, for and on behalf of the mortgagor, to which the mortgagor contributes and from which withdrawals must be approved by HUD. The purpose of the fund is to provide HUD a means to assist the hospital to avoid mortgage defaults and to preserve the value of the mortgaged property and the hospital's business.

Source

24 CFR § 242.1

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Scoping language

As used in this subpart, the following terms shall have the meaning indicated:

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