FHA FORECLOSED PROPERTIES.

SEC. 136. FHA FORECLOSED PROPERTIES. (a) Maintenance.—Section 204(a) of the National Housing Act is amended by inserting after the period at the end of the third sentence the following new sentence: “As a condition of the receipt of such benefits, the mortgagee shall maintain or assure the maintenance of the mortgaged property (in such manner as the Secretary shall by regulation provide) during the period beginning on the taking of the possession or other acquisition of the mortgaged property by the mortgagee and ending on conveyance to the Secretary or other disposition of the mortgaged property in accordance with this section, and funds expended by the mortgagee in meeting such obligation shall be included, to the extent provided in this subsection or in subsection (k), in debentures or other insurance payment pursuant to this section.”. 103 STAT. 2029 (b) Disposition of Properties on Credit Terms.—Section 204(g) of the National Housing Act is amended by inserting after the period at the end of the first sentence the following new sentence: “The Secretary shall, by regulation, carry out a program of sales of such properties and shall develop and implement appropriate credit terms and standards to be used in carrying out the program.”.