3550.72—Community land trusts.
Eligible dwellings located on land owned by a community land trust may be financed if:
(a)
The loan meets all the requirements of this subpart; and
(b)
Any restrictions, imposed by the community land trust on the property or applicant are:
(1)
Reviewed and accepted by RHS before loan closing; and
(2)
Automatically and permanently terminated upon foreclosure or acceptance by RHS of a deed in lieu of foreclosure.