Current with changes from the 2024 Legislative Session
Section 4-225 - Financing procedures - In general(a) The Administration shall administer a program of financial assistance for: (1) community development projects;(2) energy conservation projects;(3) home improvement projects;(4) public purpose projects;(5) solar energy projects;(6) special housing facilities; and(b) The Administration shall provide financial assistance for projects and facilities under this section with money that the Administration can get for them from any source, including: (1) payments under federal law;(2) bonds or notes issued by the Administration;(3) bonds or notes issued by the State; and(4) mortgage-backed securities and proceeds of investments in them.(c) A loan for a home improvement project having a principal balance exceeding $5,000 shall be secured by a mortgage.(d) Subject to an agreement with noteholders or bondholders, the Administration may consent that a loan, loan commitment, or agreement to which the Administration is a party be modified as to:(2) the time of payments of an installment of principal or interest;Amended by 2016 Md. Laws, Ch. 482,Sec. 2, eff. 7/1/2016.