|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ch. 293
|
|
|
|
|
|
2007 Laws of Maryland
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Section 4-810(d) and 4-815(f)(4)
Annotated Code of Maryland
(2006 Volume)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Housing and Community Development
4-804.
The purposes of the Program are to make, participate in making, and purchase:
(1) preferred interest rate loans to acquire, acquire and rehabilitate
with or without demolition or lot consolidation, or refinance a primary residence by:
(i) households of limited income that will occupy single-unit
primary residences; or
(ii) owner-occupants of residential buildings with not more than
four units, if each unit other than the owner's will be occupied by a household of
limited income;
(2) short-term construction loans to developers or nonprofit sponsors
to construct or rehabilitate dwelling units that households of limited income can
afford;
(3) short-term loans to nonprofit sponsors, as defined in Departmental
regulations, to acquire and construct or acquire and rehabilitate, with or without
demolition or lot consolidation, dwelling units that households of limited income can
afford to buy under a purchase or lease-purchase contract;
(4) emergency assistance loans to households of limited income who,
because of unemployment or other extraordinary hardship, cannot make current
mortgage payments on their homes and risk forfeiting the title to their homes; [and]
(5) reverse equity loans to elderly households of limited income for
housing related expenses or personal expenses that enable the owner to continue to
occupy the home; and
(6) PREFERRED INTEREST RATE LOANS TO HOUSEHOLDS THAT
MEET INCOME STANDARDS SET BY THE DEPARTMENT FOR THE REDEMPTION OF
GROUND LEASES ON THEIR PRINCIPAL RESIDENCE, INCLUDING THE
TRANSACTIONAL COSTS ASSOCIATED WITH THE REDEMPTION.
|
|
|
|
|
|
|
|
|
|
- 1896 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
