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PART 221—LOW COST AND MODERATE INCOME MORTGAGE INSURANCE—SAVINGS CLAUSE›Subpart B—Contract Rights and Obligations—Low Cost Homes

§ 221.275 Method of paying insurance benefits.

24 C.F.R. Parts 207 & 221 — FHA Multifamily Mortgage Insurance (Sec. 207 rental housing; Sec. 221(d) moderate-income housing) · 2026 edition · updated 2026-07-29 · United States

If the application for insurance benefits is acceptable to the Commissioner, all of the insurance claim shall be paid in cash unless the mortgagee files a written request with the application for payment in debentures. If such a request is made, all of the claim shall be paid by issuing debentures and by making a cash payment adjusting any differences between the total amount of the claim and the amount of the debentures issued.

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▸ Contents — 24 C.F.R. Parts 207 & 221 — FHA Multifamily Mortgage Insurance (Sec. 207 rental housing; Sec. 221(d) moderate-income housing)
24 C.F.R. Parts 207 & 221 — FHA Multifamily Mortgage Insurance (Sec. 207 rental housing; Sec. 221(d) moderate-income housing)
  1. 24 C.F.R. Parts 207 & 221 — FHA Multifamily Mortgage Insurance…
  2. PART 207—MULTIFAMILY HOUSING MORTGAGE INSURANCE
  3. ▸ PART 221—LOW COST AND MODERATE INCOME MORTGAGE INSURANCE—SAVIN…
    Overview
    1. Subpart A—Eligibility Requirements—Low Cost Homes—Savings Clause
    2. ▸ Subpart B—Contract Rights and Obligations—Low Cost Homes
      Overview
      1. § 221.251 Cross-reference.
      2. § 221.252 Substitute mortgagors.
      3. § 221.254 Mortgage insurance premiums.
      4. § 221.255 Assignment option.
      5. § 221.256 Interest rate increase and payment of mortgage insur…
      6. § 221.275 Method of paying insurance benefits.
      7. § 221.280 Waived title objections.
    3. Special Provisions Applicable Only to Mortgages Involving Cond…
    4. Subpart C—Eligibility Requirements—Moderate Income Projects
    5. Subpart D—Contract Rights and Obligations—Moderate Income Proj…
    6. Subpart E—Servicing Responsibilities—Low Cost Homes

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