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| TITLE 10 | COMMUNITY DEVELOPMENT |
| PART 1 | TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS |
| CHAPTER 27 | TEXAS FIRST TIME HOMEBUYER PROGRAM RULE |
| RULE §27.7 | Resale of the Residence |
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. |
| Source Note: The provisions of this §27.7 adopted to be effective March 3, 2022, 47 TexReg 906 |
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