24 C.F.R. §92.254 - Qualification as affordable housing: Homeownership

Cite as24 C.F.R. §92.254
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5 cases
  • Grant v. City of Roanoke, Civil Action No. 7:16CV00007
    • United States
    • United States District Courts. 4th Circuit. United States District Court (Western District of Virginia)
    • July 18, 2017
    ...receiving allocations of funds made available under the Act. Id. HUD has promulgated regulations implementing the HOME Program. See 24 C.F.R. § 92.254. Pursuant to the regulations, housing that is for acquisition by a family must meet certain "affordability requirements." Id. § 92.254(a). I......
  • Hallmark Developers, Inc. v. Fulton County, Ga., 05-15633.
    • United States
    • United States Courts of Appeals. United States Court of Appeals (11th Circuit)
    • October 12, 2006
    ...geographical area pays 30% or less of gross monthly income for mortgage and utilities or rent and utilities. See 24 C.F.R. §§ 92.2, 92.252, 92.254. 2. In its order on summary judgment, the District Court stated that it was undisputed that no concerns regarding quality were expressed. At tri......
  • In re 28™ Legislative Dist. Cmty. Dev. Corp., 10-14804
    • United States
    • United States Bankruptcy Courts. Sixth Circuit. U.S. Bankruptcy Court — Eastern District of Tennessee
    • November 9, 2011
    ...of the period of affordability, then there is a provision for "recapture" of th HOME funds, in part or in whole, from the homebuyer. 24 C.F.R. 92.254(a)(5)(ii). Funds that are "recaptured" in accordance with 92.254(a)(5)(ii) must be usedin accordance with the requirements of this part. Reca......
  • Arocho v. N.J. Dep't of Cmty. Affairs, DOCKET NO. A-4639-17T2
    • United States
    • New Jersey Superior Court – Appellate Division
    • January 9, 2020
    ...to "a buyer whose family qualifies as a low-Page 10 income family and will use the property as the family's principal residence." 24 C.F.R. § 92.254(a)(5)(i). The resale provision must ensure the price at resale "provides the original HOME-assisted owner a fair return on investment . . . an......
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