What happens if I sell the property and purchase another house within the South Campus community? Am I still eligible to participate in the Home Loan Guaranty Program?
You may sell the property at any time. The proceeds of the sale will be used to repay the lender. The loan guaranty is not transferable to the purchaser(s) of the property. In order to purchase another home in the South Campus community under the Home Loan Guaranty Program, you must reapply and obtain a new Letter of Introduction.
Related Questions
- If you purchase a property that has an IRS lien against it does the purchaser acquire the lien with the property and become responsible to pay it or what happens to the lien when a house is foreclosed?
- What happens if I sell the property and purchase another house within the South Campus community? Am I still eligible to participate in the Home Loan Guaranty Program?
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