- For each loan issued under this chapter, the Mayor shall arrange a repayment schedule for which the repayment shall not create an economic hardship on the senior citizen homeowner receiving the loan. Loan repayment may be deferred to avoid economic hardship.
- The loans granted under this chapter shall be recorded as a lien against the principal place of residence of the applicant.
- If the loan is not fully repaid prior to the death of the senior citizen homeowner who accepted a loan under this chapter, the District may collect the unsatisfied amount from the decedent's estate.
Historical and Statutory
1981 Ed., § 45-3005.
Legislative History of Laws
For legislative history of D.C. Law 7-96, see Historical and Statutory Notes following § 42-2201.
DC CODE § 42-2205
Current through December 11, 2012
(Mar. 24, 1988, D.C. Law 7-96, § 6, 35 DCR 891.)