Texas Administrative Code
Title 10 - COMMUNITY DEVELOPMENT
Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS
Chapter 27 - TEXAS FIRST TIME HOMEBUYER PROGRAM RULE
Section 27.7 - Resale of the Residence
Universal Citation: 10 TX Admin Code ยง 27.7
Current through Reg. 49, No. 38; September 20, 2024
Mortgage Loans that are financed with the proceeds of tax-exempt bonds, or for which a Mortgage Credit Certificate has been or will be issued, will be subject to federal income tax recapture provisions. Assumption of a Mortgage Loan is allowed under the Program if the new owner meets the Program requirements at the time of the sale of the Residence.
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