§ 35-7-39. Second purchases of property for veteran
The intent of this law is to provide a one-time benefit to the veteran, and the board shall not consider applications for the purchase of a second home as long as there are eligible veterans on the waiting list to apply for a first purchase. If a veteran who has been the beneficiary of this […]
§ 35-7-41. Rights of surviving spouse
If a veteran dies after filing his or her application for a home as provided in this chapter, and his or her application is subsequently approved, his or her unremarried spouse may, in the discretion of the board, succeed to his or her rights, privileges and benefits under this law that would have been his […]
§ 35-7-43. Removal of disability of minority
Any citizen of this state, over the age of 18 years and under the age of 21 years, otherwise qualified under the provisions of this chapter and desirous of obtaining the benefits of this chapter, notwithstanding such minority, shall be entitled to avail of the benefits of this chapter, and for so doing the minority […]
§ 35-7-45. Funds; sale of mortgages; issuance of notes
Any money previously appropriated to the revolving fund of the board or that may be hereinafter appropriated shall be commingled, exclusive of escrow funds provided for in Section 35-7-31, into a general revolving fund for carrying out the provisions of this chapter. The expense of administering this chapter shall be paid from the revolving fund […]
§ 35-7-47. Special consideration in event of hardship
This law recognizes the occurrence of extreme and unusual circumstances which create hardship on veteran applicants from time to time; therefore, the board shall have the authority to waive, according to its best judgment, certain provisions, rules and criteria on a case by case basis. Any request for special consideration of hardship shall be fully […]
§ 35-7-49. Confidentiality of information obtained in loan processing
All personal information, including financial and credit information, provided to the board for the purpose of obtaining and servicing a loan, shall be held in strict confidence by the board, and used only by the board and its authorized employees for the purpose of processing and servicing the subject loan. Release of any information on […]
§ 35-7-51. Criminal sanctions for fraudulent conduct
Any person, seller, veteran, broker, agent, attorney or corporate officer, who shall knowingly make, utter, publish, pass or use any false, fictitious or forged paper, document, contract, affidavit, application, assignment or other instrument in writing in connection with or pertaining to any transaction under this law, shall be guilty of a felony and, upon conviction […]
§ 35-7-29. Execution of general deed and deed of trust; notice of veteran’s intent to transfer property
When a purchaser shall have paid as much as twenty percent (20%) on such home, or when the purchaser shall cause the amount due on such purchase to be underwritten by the United States Department of Veterans Affairs under the provisions of the Servicemen’s Readjustment Act of 1944, the board may determine the amount of […]
§ 35-7-31. Escrow agreements
The board is authorized to enter into escrow agreements with the purchaser for the payment of anticipated taxes and hazard insurance premiums, or for the payment of life insurance premiums in cases where the board requires a life insurance policy to cover the unpaid balance of the indebtedness. All funds collected as escrow items for […]
§ 35-7-33. Satisfaction of taxes, assessments, etc.; improvements
If the purchaser fails or neglects to pay, satisfy and discharge at maturity any taxes, assessments or other charges or encumbrances which shall be a lien upon the property being purchased from the board, or any part thereof, or any taxes or assessments levied or assessed upon the land so bought or the interest created […]