Home Foreclosures: 6.4.2.1 Acceleration and Foreclosure of Section 502 Direct Loans
A Section 502 mortgage can be accelerated when there has been a default under the terms of the mortgage, most often from failure to make payments due under the mortgage. The account must be delinquent in an amount equal to three scheduled payments or an amount equal to two scheduled payments that have been delinquent for at least three consecutive months.390