Ch. 220

LAWS OF MARYLAND

(4)  May not be financially able to obtain a private
mortgage or otherwise to finance the purchase; and

(5)  Shall be within the limits on adjusted annual
income set by the Department.

(c)  The domicile requirement may be satisfied by either of
two spouses applying for a loan.

(d)  To qualify for a loan, a group home sponsor:

(1)  Shall provide a group home which is to be
occupied in substantial part by individuals or families within
the maximum income limits set by the Department; and

(2)  Shall demonstrate the capacity to manage the
group home, provide necessary services, and repay the loan.]

2-605.

TO QUALIFY FOR A LOAN UNDER § 2-602(1), (3), OR (4) OF THIS
SUBTITLE, AN APPLICANT:

(1)  SHALL BE A HOUSEHOLD OF LIMITED INCOME;

(2)  UPON CLOSING OF THE LOAN, SHALL INTEND TO RESIDE
IN THE HOME TO BE FINANCED;

(3)  MAY NOT OWN OTHER PROPERTY USED AS THE
APPLICANT'S PERSONAL RESIDENCE; AND

(4)  IN THE ESTIMATION OF THE PROGRAM, MAY NOT HAVE
THE FINANCIAL RESOURCES TO OBTAIN A PRIVATE CONVENTIONAL MORTGAGE
OR QUALIFY FOR OTHER DEPARTMENTAL LOAN PROGRAMS.

[2-706.

(a) Under the Program the Department may make a loan, the
proceeds of which shall be used to make emergency mortgage loan
payments to mortgagees on behalf of qualified mortgagors and
payments for financial counseling services required under the
Program.

(b) Loan payments may be made in an amount which financial
counseling of the mortgagor indicates is the difference between
the mortgage payments due and that which the mortgagor can be
reasonably expected to pay.

(c) The initial loan payment shall include an amount
necessary to bring payments on the mortgage current, including
any late payment charges lawfully imposed.

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