24 CFR § 248.315 - Preservation agreements.

---
identifier: "/us/cfr/t24/s248.315"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "24 CFR § 248.315 - Preservation agreements."
title_number: 24
title_name: "Housing and Urban Development"
section_number: "248.315"
section_name: "Preservation agreements."
chapter_name: "OFFICE OF ASSISTANT SECRETARY FOR HOUSING—FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT"
subchapter_number: "B"
subchapter_name: "MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES"
part_number: "248"
part_name: "PREPAYMENT OF LOW INCOME HOUSING MORTGAGES"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 17151 note, 4101 note, and 4101-4124; 42 U.S.C. 3535(d)."
cfr_part: "248"
---


# 248.315 Preservation agreements.

(a) *Agreements required.* Owners of projects with State assisted or subsidized mortgages whose plans of action have been approved under § 248.307 shall enter into agreements, contracts and/or mortgage modifications with the State agency or local housing authority to maintain the housing as affordable to tenants in accordance with § 248.145. Such agreements may provide for the renewal of any assistance made available under § 248.319(c).

(b) *Term of agreement.* Preservation agreements shall be coterminous with the expiration of any assistance provided under § 248.153 and made available in accordance with § 248.319(c).