California Health and Safety Code ARTICLE 4.5 - Subordinated Mortgage Loans

• Section 51180.
  As used in this article:(a)  “Subordinated loan” means a deferred payment mortgage loan, which is a second trust deed used in connection with other financing...
• Section 51181.
  The agency shall accept applications from housing sponsors for subordinated loans for rental housing developments upon which construction commences on or after January 1, 1983....
• Section 51182.
  The agency shall determine the manner in which subordinated loans are to be repaid. Potential methods of repayment may include, but not be limited to:(a)...

Last modified: October 22, 2018