24 NCAC 01D .0502. ELIGIBILITY

(a)  The fund will be available to assist income eligible households as defined in Rule .0102 of this Subchapter, who would be unable to receive subsidized loans from the agency.

(b)  The fund may also provide mortgage assistance to eligible households through organizations that aid in the production of housing that is affordable to income eligible households described in Paragraph (a) of this Rule.  This alternative permits participating organizations to provide mortgage loans to eligible households using the proceeds of the fund received from the agency.

(c)  The agency may, from time to time, designate specific counties within the state to receive portions of the proceeds from the fund for the purpose of assisting eligible households.

 

History Note:        Filed as a Temporary Rule Eff. May 15, 1984, for a Period of 120 Days, to Expire on September 12, 1984;

Authority G.S. 122A‑5.7;

Eff. August 1, 1984;

Amended Eff. December 1, 1989; June 1, 1987; January 1, 1986.