CFR > Title 7 - Agriculture > SUBTITLE B—Regulations of the Department of Agriculture > CHAPTER XVIII—RURAL HOUSING SERVICE, RURAL BUSINESS-COOPERATIVE SERVICE, RURAL UTILITIES SERVICE, AND FARM SERVICE AGENCY, DEPARTMENT OF AGRICULTURE (parts 1804 to 2045) > SUBCHAPTER H—PROGRAM REGULATIONS (parts 1900 to 1981) > PART 1957—ASSET SALES > SUBPART A—Rural Housing Asset Sales (§1957.1 to §1957.7-1957.50) > 1957.2—Transfer with assumptions.

1957.2—Transfer with assumptions.

FmHA or its successor agency under Public Law 103-354 regulations governing transfers and assumptions will not apply to these loans. Individuals who what to purchase property securing a loan held by the Rural Housing Trust 1987-1, and who are eligible for an FmHA or its successor agency under Public Law 103-354 § 502 loan will be given the same priority by FmHA or its successor agency under Public Law 103-354 as a transferee of a § 502 loan if the property is then suitable for the FmHA or its successor agency under Public Law 103-354 RH program and is located in an eligible area. The Master Servicer of the Rural Housing Trust, 1987-1, may permit an assumption if it is deemed by the Master Servicer to be in the financial interest of the Trust, but in such case the transferee would not be eligible for FmHA or its successor agency under Public Law 103-354 loan servicing benefits under FmHA or its successor agency under Public Law 103-354 regulations.