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Mode Extension of Senior Housing Financing Modalities

Modality Specific Standards for Financing for Expansion:

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  Funding will be paid to the beneficiary in a single payment given to the date of notarization of the loan.
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  After canceling the loan, the beneficiary may qualify for new financing for expansion or remodeling within three (3) years from the date of registration credit. This may be awarded up to two (2) times to the same recipient.
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  The loan is secured by a first mortgage.
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  Benefits can not sell the house until they have passed three (3) years from date of probate her credit.
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  When including Direct housing subsidy should return it to its present value if the sale is made within five (5) years of purchase.
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  For the disposal of property, must be authorized by the mortgagee.