§ 35-7-1. Short title
This chapter may be cited as the Veterans’ Home Purchase Law.
§ 35-7-11. Offices of board; staff and related expenses; assistance from county veterans service officers and others
The board is hereby authorized to establish offices and employ an adequate staff to serve the citizens of Mississippi as it deems necessary; and the expenses of such offices shall be included within the administrative cost limitation prescribed in Section 35-7-9. The board may utilize the services of county veterans service officers and other such […]
§ 35-7-13. Duty of public officials to cooperate with board
It is hereby made the duty of all state, county and city officials to furnish and give all required information to the board, upon request and without charge therefor.
§ 35-7-15. Eligibility of veterans; applications; priority preferences; waiting lists; distribution of assistance
Any person deeming himself a veteran, and desiring to benefit under the provisions of this chapter, shall submit to the board information, in such form as may be prescribed, that will enable the board to determine his eligibility and qualifications. The board may make such further inquiries and investigations as it deems proper and necessary […]
§ 35-7-17. Acquisition of homes for resale to veterans; refinancing of permanent mortgage loans; limitations as to applications for purchase
The board may acquire for sale to a veteran a home situated in the State of Mississippi, provided that the cost of such home to the board does not exceed the maximum loan limit as provided in 38 USCS Section 3703 by application of the housing loan guaranty for housing loans to veterans as defined […]
§ 35-7-19. Acquisition by board of leasehold interests in certain lands for resale to veterans
In addition to and supplemental to any other authority vested in the Veterans Home Purchase Board, the board is authorized and empowered to purchase a leasehold interest in sixteenth section lands, and leasehold interests in other lands owned by the state or a department thereof, for resale of such interest in land to a qualified […]
§ 35-7-25. Selection of home by veteran; contract between board and veteran; terms of payment; appraisal
When a veteran has been authorized by the board to select the home he desires, he shall submit his selection in such form as may be prescribed by the board. If the board is satisfied of the desirability of the property submitted and if such veteran has agreed with the board to actually reside upon […]
§ 35-7-27. Details of contract between board and purchaser
The contract entered into between the board and the purchaser shall provide, among other things, that the purchaser intends to maintain said farm or home as his place of residence, that the purchaser shall keep the same in good order, that the purchaser shall keep in repair all buildings, fences and other permanent improvements, situated […]
§ 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 […]
§ 35-7-3. Declaration of public policy
It is hereby declared to be the public policy of this state to aid its veterans to become rehabilitated and to become as quickly as possible self-sustaining, thereby strengthening their citizenship and expressing the gratitude of all the peoples of this state for such public services they have rendered, and to that end this chapter […]
§ 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 […]
§ 35-7-35. Cancellation; foreclosure
In event of a failure of a purchaser to comply with any of the terms of his contract, or the trust deed, provided for in this chapter, the board shall have the right at its option to cancel such contract or to cause a foreclosure thereof to be made under its deed of trust. Failure […]
§ 35-7-37. Care of property reverting to board
The board shall have the power to insure and keep insured against fire and other hazards as the board may determine, all buildings, and other permanent improvements, or any of them, situated upon any property which has reverted to and is under the control of the board. The board shall have the power to do […]
§ 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 […]