175.16 - POWERS RELATING TO LOANS.
175.16 POWERS RELATING TO LOANS.
Subject to any agreement with bondholders or noteholders, the
authority may renegotiate a mortgage or secured loan or a loan to a
mortgage lender in default, waive a default or consent to the
modification of the terms of a mortgage or secured loan or a loan to
a mortgage lender, forgive or forbear all or part of a mortgage or
secured loan or a loan to a mortgage lender and commence, prosecute
and enforce a judgment in any action, including but not limited to a
foreclosure action, to protect or enforce any right conferred upon it
by law, mortgage or secured loan agreement, contract or other
agreement and in connection with any action, bid for and purchase the
property or acquire or take possession of it, complete, administer,
pay the principal of and interest on any obligations incurred in
connection with the property and dispose of and otherwise deal with
the property in a manner the authority deems advisable to protect its
interests. Section History: Early Form
[C81, § 175.16]