G. 
Homebuyers' Club Program



 



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



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



(c)  The corporation may secure the services of
another public or private entity to carry out the purposes of this section. [L
2006, c 180, pt of §4]