§201H-46 - Co-mortgagor.
[§201H-46] Co-mortgagor. For purposesof qualifying for a mortgage loan to finance the purchase of a dwelling unitunder this part, a "qualified resident" as defined in section 201H‑32may be assisted by a co-mortgagor who is a family member as defined by thecorporation, who may own other lands in fee simple or leasehold suitable fordwelling purposes, whose interest in the dwelling unit to be purchased islimited to no more than one per cent, and who certifies that the co-mortgagordoes not intend to reside in the dwelling unit. The income and assets of theco-mortgagor shall not be counted in determining the eligibility of the"qualified resident" under this chapter. [L 2006, c 180, pt of §3]