§4941. Program established The Elderly Homeowner Equity Loan Program is established to address the need of low-income elderly homeowners for additional income and to enable the elderly to remain in their homes. [PL 1989, c. 581, §18 (NEW).] SECTION HISTORY PL 1989, c. 581, §18 (NEW).
§4942. Elderly Homeowner Equity Loan Guarantee Fund 1. Creation. The Elderly Homeowner Equity Loan Guarantee Fund is established under the jurisdiction of the Maine State Housing Authority. As used in this section, the term “fund” means the Elderly Homeowner Equity Loan Guarantee Fund. [PL 1989, c. 581, §18 (NEW).] 2. Sources of fund. Sources […]
§4943. Limitations The following limitations apply to the Elderly Homeowner Equity Loan Program and the Elderly Homeowner Equity Loan Guarantee Fund under this subchapter. [PL 1989, c. 581, §18 (NEW).] 1. Priority. Priority shall be given to low-income elderly households. [PL 1989, c. 581, §18 (NEW).] 2. Participation. Participation is limited to applicants […]
§4944. Adoption of rules Subject to the Maine Administrative Procedure Act, Title 5, chapter 375, subchapter II, the Maine State Housing Authority may adopt rules necessary to implement the Elderly Homeowner Equity Loan Program. [PL 1989, c. 581, §18 (NEW).] 1. Asset limitations. The Maine State Housing Authority may adopt rules with respect to […]
