Section 51500.
51500. This chapter shall be known and may be cited as the California Homebuyer’s Downpayment Assistance Program. (Added by Stats. 2000, Ch. 81, Sec. 1. Effective July 5, 2000. Inoperative on July 1, 2016, as provided in Section 51511.)
Section 51501.
51501. The Legislature finds and declares all of the following: (a) There is a continuing and urgent need to provide affordable mortgage financing to meet the increasingly unfulfilled housing needs of citizens of this state. (b) The high cost of housing impedes the ability of California employers to compete in the national marketplace for employees. […]
Section 51502.
51502. The purpose of the California Homebuyer’s Downpayment Assistance Program is to assist first-time low- and moderate-income homebuyers utilizing existing mortgage financing. (Added by Stats. 2000, Ch. 81, Sec. 1. Effective July 5, 2000. Inoperative on July 1, 2016, as provided in Section 51511.)
Section 51504.
51504. (a) The agency shall administer a downpayment assistance program that includes, but is not limited to, all of the following: (1) Downpayment assistance shall include, but not be limited to, a deferred-payment, low-interest, junior mortgage loan to reduce the principal and interest payments and make financing affordable to first-time low- and moderate-income home buyers. (2) (A) Except as […]
Section 51505.
51505. (a) In addition to the downpayment assistance program authorized by Section 51504, and notwithstanding any provision of Section 51504 to the contrary, the agency shall provide downpayment assistance from the funds set aside pursuant to subparagraph (D) of paragraph (7) of subdivision (a) of Section 53533 for the purposes of the portion of the Extra […]
Section 51506.
51506. The downpayment assistance provided by this program shall be limited to first-time homebuyers. (Added by Stats. 2000, Ch. 81, Sec. 1. Effective July 5, 2000. Inoperative on July 1, 2016, as provided in Section 51511.)
Section 51510.
51510. The agency shall have all the powers conferred upon it by this part (commencing with Section 50900) in administering this chapter. (Added by Stats. 2000, Ch. 81, Sec. 1. Effective July 5, 2000. Inoperative on July 1, 2016, as provided in Section 51511.)
Section 51511.
51511. (a) This chapter, except for this section, shall not be operative on and after July 1, 2016. (b) On and after July 1, 2016, any unobligated amounts remaining in any fund established for the purposes of this chapter, including the repayment of disbursed moneys, or any interest earned from the investment of those moneys or any […]