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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) Notwithstanding part B of subchapter XII-A of Chapter 3 of Title 1, or its implementing rules under Chapter 50 of Title 1 of the District of Columbia Municipal Regulations (1 DCMR § 5000 et seq.), DHCD is authorized to enter into a grant agreement with NACA to provide financial relief for Property Owners seeking to obtain permanent housing.
(b) The grant agreement may include that NACA:
(1) Provide housing counseling services to Property Owners, including assessing Property Owners' permanent housing options and working with Property Owners to meet NACA's mortgage eligibility criteria;
(2) Provide recommendations to the Mayor about the financial need for gap financing based on the assessments of the Property Owners;
(3) Alongside the Mayor, seek relief for Property Owners' existing mortgages on the Property;
(4) Provide affordable mortgage options to eligible Property Owners;
(5) Waive any requirements against a Property Owner having an existing mortgage; provided, that the existing mortgage is on the Property; and
(6) Not use credit score as the deciding factor for approving a Property Owner's mortgage.
Cite this article: FindLaw.com - District of Columbia Code Division VII. Property. § 42-2082. DHCD grant authority. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-vii-property/dc-code-sect-42-2082/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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