Section 7753 - Disbursement of Grant and Loan Funds(a) CalHome Program funds shall be disbursed on an advance basis. Details of the process for advance disbursements will be published in the current NOFA, and shall be included in all Standard Agreements. Advances may include, but are not limited to: (1) homeownership project development loan disbursements;(2) advances of up to 25% of the award for self-help and shared housing technical assistance;(3) advances for Owner-Occupied Rehabilitation programs up to the amount of the Recipient's anticipated volume of closed loans for the following sixty days; or(4) advances to escrow for mortgage assistance loans.Cal. Code Regs. Tit. 25, § 7753
1. New section filed 9-29-2003; operative 9-29-2003 pursuant to Government Code section 11343.4 (Register 2003, No. 40). Note: Authority cited: Sections 50406(n) and 50650.2, Health and Safety Code. Reference: Sections 50650.2, 50650.3(b), 50650.4 and 50650.7, Health and Safety Code.
1. New section filed 9-29-2003; operative 9-29-2003 pursuant to Government Code section 11343.4 (Register 2003, No. 40).