California Health and Safety Code CHAPTER 2 - Buy-Down Mortgage Plan

• Section 52510.
  The agency may contract with qualified mortgage lenders with respect to mortgage loans qualified under this part to pay to such lenders, subject to the...
• Section 52511.
  The agency may make commitments to qualified mortgage lenders to make contracts for buy-down mortgage plans which conform to this part.The agency may require the...
• Section 52512.
  The mortgage loan by a qualified mortgage lender for which a buy-down contract may be executed by the agency shall be in such form as...
• Section 52513.
  The terms of the contract with a qualified mortgage lender for the buy-down mortgage plan shall be established by regulations of the agency adopted by...
• Section 52513.5.
  (a)  If: (1) a loan executed pursuant to Section 52512 is for a term of less than 30 years or provides for a balloon payment;...
• Section 52514.
  In consideration for the agency’s contract, and performance of contract, to purchase a buy-down of the effective interest to the borrower on the mortgage loan,...
• Section 52514.5.
  All payments to the agency by the borrower on any note executed pursuant to Section 52514 shall be considered payments of interest for the purposes...
• Section 52515.
  The real property to be purchased by the borrower on a mortgage loan pursuant to this part shall be an owner-occupied housing unit, the acquisition...
• Section 52516.
  The agency shall establish by regulation, adopted by the policy committee, standards for the eligibility of purchasers of housing subject to this part. Such individuals...
• Section 52517.
  Notwithstanding any other provisions of this part, only mortgage loans are eligible for buy-down under the provisions of this part which are presently, or are...
• Section 52518.
  Notwithstanding the provisions of Section 711 of the Civil Code, the agency shall not permit the assumption of the obligation under any note or mortgage...
• Section 52519.
  The agency may renegotiate, refinance, foreclose, or contract for the foreclosure of any mortgage executed pursuant to Section 52514 which is in default, and may...

Last modified: October 22, 2018