7 CFR § 3550.202 - Past due accounts.

---
identifier: "/us/cfr/t7/s3550.202"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "7 CFR § 3550.202 - Past due accounts."
title_number: 7
title_name: "Agriculture"
section_number: "3550.202"
section_name: "Past due accounts."
chapter_name: "RURAL HOUSING SERVICE, DEPARTMENT OF AGRICULTURE"
part_number: "3550"
part_name: "DIRECT SINGLE FAMILY HOUSING LOANS AND GRANTS"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "5 U.S.C. 301; 42 U.S.C. 1480."
regulatory_source: "61 FR 59779, Nov. 22, 1996, unless otherwise noted."
cfr_part: "3550"
---


# 3550.202 Past due accounts.

An account is past due if the scheduled payment is not received by the due date, or as authorized by State law.

(a) *Late fee.* A late fee will be assessed if the full scheduled payment is not received by the 15th day after the due date.

(b) *Liquidation*—(1) *For borrowers with monthly payments.* The account may be accelerated without further servicing when at least 3 scheduled payments are past due or an amount equal to at least 2 scheduled payments is past due for at least 3 consecutive months. In such cases RHS may pursue voluntary liquidation and foreclosure.

(2) *For borrowers with annual payments.* The account may be accelerated without further servicing when at least 
3/12 of 1 scheduled payment has not been received by its due date. In such cases, RHS may pursue voluntary liquidation and foreclosure.

(3) *Subsidy recapture.* Acceleration under this section will take into account any subsidy recapture due under § 3550.162.

[61 FR 59779, Nov. 22, 1996, as amended at 77 FR 3379, Jan. 24, 2012]