§ 11. Loans in conformity with regulations of Federal Housing Commissioner
Notwithstanding other provisions of this chapter, the Executive Director of the Virgin Islands Housing Finance Authority shall make loans for housing in accordance with the regulations of the Federal Housing Commissioner under all sections of the National Housing Act, as amended. In such cases the Executive Director of the Virgin Islands Housing Finance Authority shall […]
§ 12. Collection of payments; execution of deeds; option of Government to repurchase
(a) The Authority shall collect the installments and rental fees from the holders of land or homes and in like manner and under the same conditions and by the use of the same powers which are made use of in or for the collection of property taxes. (b) In the case of any contract for […]
§ 13. Subordination of mortgages on homestead land; conditions as to agreements; definition
(a) The Executive Director of the Virgin Islands Housing Finance Authority is authorized to consent to the mortgaging of homestead land to a lending institution for the purpose of securing a construction loan by the homestead allottee, which consent may include the following: (1) Subordinating the rights of the Government under this title in the […]
§ 14. Assistance to veterans in obtaining federal loans; contracts
The Virgin Islands Housing Finance Authority is authorized to devise a program to assist veterans of the Armed Forces of the United States who are natives of the Virgin Islands or permanent residents of the Virgin Islands to obtain loans made available to veterans by Federal law. The Virgin Islands Housing Finance Authority shall be […]
§ 15. Acquisition or designation of land for sale to veterans
The Virgin Islands Housing Finance Authority shall acquire suitable parcels of land or it may designate parcels of land already under its jurisdiction, with the approval of the Governor and the Legislature, for exclusive allotment and sale, on terms, to qualified veterans who were born in the Virgin Islands or who entered the Armed Forces […]
§ 16. Home construction and improvement loans to veterans
The Executive Director of the Virgin Islands Housing Finance Authority may expend funds to provide loans to assist any veteran to— (1) purchase a house, including but not limited to a mobile home, house trailer, prefabricated house or manufactured house. (2) construct, improve, alter, repair or rehabilitate his home including cisterns, foundation slabs, or retaining […]
§ 17. Authorization of appropriations for housing of veterans
There is hereby authorized to be appropriated the sum of $1,000,000 annually from the Internal Revenue Matching Fund for five years to be spent exclusively for the Veterans Housing Loan Program.
§ 4a. No down payment for veterans
Notwithstanding other provisions of law, veterans who qualify for purchase of homestead land under the provisions of this chapter shall not be required to make any payment of money at the time of the execution of a contract for the purchase of homestead land and for a period of 90 days thereafter, at which time […]
§ 5. Minimum selling price
The selling price determined under section 2(a)(11) of this title for land to be sold under this chapter shall be a sum of at least equal to the price paid for the land by the Government.
§ 6. Applicants for lots; form of applications
All applicants for homestead lots, except priority purchasers, shall be at least 18 years of age. Applications shall be made in writing to the Executive Director of the Virgin Islands Housing Finance Authority, stating the lot or lots required. Applications shall be indorsed by two persons of good repute.