G. Homebuyers' Club Program

 

[§201H-171]  Homebuyers' club program. (a)  The corporation may establish a homebuyers' club program for participantswho are desirous of purchasing a home and who have adequate incomes but wholack sufficient funds for the downpayment and closing costs.  The primary focusof this program is to facilitate the purchase of homes by providingparticipants with strategies to save money, to resolve credit problems, and toeducate participants on how to shop for and purchase a home.

(b)  In establishing such a program, thecorporation shall adopt rules pursuant to chapter 91 relating to establishing asavings program for participants based upon individual analyses of income andfamily expenses.  The rules may also provide for integration of the homebuyers'club program with other governmental programs including but not limited toindividual housing accounts under section 235-5.5, the state mortgage guaranteeprogram under subpart E, the downpayment loan program established under subpartF, and the rent-to-own program established under subpart H.

(c)  The corporation may secure the services ofanother public or private entity to carry out the purposes of this section. [L2006, c 180, pt of §4]