Mississippi Administrative Code
Title 25 - Military and Veterans - Veterans' Home Purchase Board
Part 202 - Loan Policies
Chapter 11 - Divestment of Property
Exhibit 25-202-11-A - VETERANS' HOME PURHCASE BOARD WAIVER OF THE SALE OF EXISTING HOME
I/we agree not to reside in our home located at:
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For the period of ten (10) years, and that any rent proceeds in excess of mortgage payments and cash expenses on the home will be paid to the Veterans' Home Purchase Board as a reduction to the principal balance on our Veterans' Home Purchase Board loan, and that, if sold within a period of ten (10) years, a full disclosure of the sale shall be made to the Veterans' Home Purchase Board and the proceeds of the sale in excess of the mortgage payoff and the actual cost of the sale will be paid to the Veterans' Home Purchase Board as a reduction to the principal balance of the existing loan with the Veterans' Home Purchase Board.
IT IS EXPRESSLY UNDERSTOOD THAT THE PROCEEDS PAID TOWARD THE VETERANS' HOME PURCHASE BOARD LOAN WILL BE APPLIED TO THE PRINCIPAL BALANCE OF SAID LOAN UNDER ACCEPTED ACCOUNTING PRINCIPLES AND WILL NOT REDUCE THE AMOUNT OR FREQUENCY OF THE PAYMENT IN ANY MANNER.
I hereby certify under penalty of U.S. Criminal Code Section 1010, Title 10, U.S.C. that the above statement, submitted for the purpose of aiding the borrower named below to obtain a VA mortgage loan, is true.
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Veteran
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Co-borrower
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Date
WARNING: SECTION 1010 OF TITLE 18 U.S.C., PROVIDES: "WHOEVER, FOR THE PURPOSE OF INFLUENCES SUCH ADMINISTRATION..., MAKES, PASSES, UTTERS, OR PUBLISHES ANY STATEMENT, KNOWINNG THE SAME TO BE FALSE..., SHALL BE FINED BUT NOT MORE THAN $5000. OR IMPRISIONED NOT MORE THAN 2 YEARS, OR BOTH."