### Question
How does MORTGAGE INSURANCE define net appreciated value?


### Answer
Under *12 U.S.C. § 1715z*, **net appreciated value** is defined as:

> the amount by which the sales price of the property (less the mortgagor's selling costs) exceeds the actual project cost after completion, as approved by the Secretary

#### Citation:
  - *12 U.S.C. § 1715z*
  - Heading: **CHAPTER 13-NATIONAL HOUSING > SUBCHAPTER II-MORTGAGE INSURANCE**

