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24 C.F.R. PART 904--LOW RENT HOUSING HOMEOWNERSHIP OPPORTUNITIES

TITLE 24--Housing and Urban Development

CHAPTER IX--OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

PART 904--LOW RENT HOUSING HOMEOWNERSHIP OPPORTUNITIES

Subpart A--INTRODUCTION TO LOW-RENT HOUSING HOMEOWNERSHIP OPPORTUNITY PROGRAM--[RESERVED]

Subpart B--TURNKEY III PROGRAM DESCRIPTION

�904.101

Introduction.

�904.102

Definitions.

�904.103

Development.

�904.104

Eligibility and selection of homebuyers.

�904.105

Counseling of homebuyers.

�904.106

Homebuyers Association (HBA).

�904.107

Responsibilities of homebuyer.

�904.108

Break-even amount.

�904.109

Monthly operating expense.

�904.110

Earned Home Payments Account (EHPA)

�904.111

Nonroutine Maintenance Reserve (NRMR).

�904.112

Operating reserve.

�904.113

Achievement of ownership by initial homebuyer.

�904.114

Payment upon resale at profit.

�904.115

Achievement of ownership by subsequent homebuyers.

�904.116

Transfer of title to homebuyer.

�904.117

Responsibilities of homebuyer after acquisition of ownership.

�904.118

Homeowners association--planned unit development (PUD).

�904.119

Homeowners association--condominium.

�904.120

Relationship of homeowners association to HBA.

�904.121

Use of appendices.

�904.122

Statutory preferences.

Appendix

Appendix I to Subpart B of Part 904--Annual Contributions Contract

Appendix

Appendix II to Subpart B of Part 904--Homebuyers Ownership Opportunity Agreement (Turnkey III)

Appendix

Appendix III to Subpart B of Part 904--Certification of Homebuyer Status

Appendix

Appendix IV to Subpart B of Part 904--Promissory Note for Payment upon Resale by Homebuyer at Profit

Subpart C--HOMEOWNERSHIP COUNSELING AND TRAINING

�904.201

Purpose.

�904.202

Objectives.

�904.203

Planning.

�904.204

General requirements and information.

�904.205

Training methodology.

�904.206

Funding.

�904.207

Use of appendix.

Appendix

Appendix I to Subpart C of Part 904--Content Guide for Counseling and Training Program

Subpart D--HOMEBUYERS ASSOCIATION (HBA)

�904.301

Purpose.

�904.302

Membership.

�904.303

Organizing the HBA.

�904.304

Functions of the HBA.

�904.305

Funding of HBA.

�904.306

Performing management services.

�904.307

Alternative to HBA.

�904.308

Relationship with homeowners association.

�904.309

Use of appendices.

Appendix

Appendix I to Subpart D of Part 904--Articles of Incorporation and By-Laws of _______ Homebuyers Association

Appendix

Appendix II to Subpart D of Part 904--Recognition Agreement Between Local Housing Authority and Homebuyers Association