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Code · Maryland · Housing and Community Development

§ 4-1604

91 words·~1 min read·/md/housing-and-community-development/4-1604

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§4–1604.
(a)To accomplish the purpose of this subtitle and notwithstanding any other law, a covered county may borrow money by issuing revenue bonds, notes, or other evidences of obligation.
(b)Money under subsection
(a)of this section shall be made available for residential mortgage loans to families of low or moderate income, only through mortgage lending institutions by:
(1)forward commitment mortgage purchase;
(2)existing mortgage purchase;
(3)loans to lenders;
(4)revolving mortgage fund; or
(5)any other means that the legislative body of the covered county considers appropriate.
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