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<br /> Administrative Plan 7/1/2025 <br />. <br />Page 15-31 <br />15-VII.I. CONTINUED ASSISTANCE REQUIREMENTS; FAMILY OBLIGATIONS <br />[24 CFR 982.633] <br />Homeownership assistance may only be paid while the family is residing in the home. If the <br />family moves out of the home, the PHA may not continue homeownership assistance after the <br />month when the family moves out. The family or lender is not required to refund to the PHA the <br />homeownership assistance for the month when the family moves out. <br />Before commencement of homeownership assistance, the family must execute a statement of <br />family obligations in the form prescribed by HUD [Form HUD-52649]. In the statement, the <br />family agrees to comply with all family obligations under the homeownership option. <br />The family must comply with the following obligations: <br /> The family must comply with the terms of the mortgage securing debt incurred to purchase <br />the home, or any refinancing of such debt. <br /> The family may not convey or transfer ownership of the home, except for purposes of <br />financing, refinancing, or pending settlement of the estate of a deceased family member. Use <br />and occupancy of the home are subject to 24 CFR 982.551 (h) and (i). <br /> The family must supply information to the PHA or HUD as specified in 24 CFR 982.551(b). <br />The family must further supply any information required by the PHA or HUD concerning <br />mortgage financing or refinancing, sale or transfer of any interest in the home, or <br />homeownership expenses. <br /> The family must notify the PHA before moving out of the home. <br /> The family must notify the PHA if the family defaults on the mortgage used to purchase the <br />home. <br /> The family must provide the PHA with information on any satisfaction or payment of the <br />mortgage debt. <br /> No family member may have any ownership interest in any other residential property. <br /> The family must comply with the obligations of a participant family described in 24 CFR <br />982.551, except for the following provisions which do not apply to assistance under the <br />homeownership option: 24 CFR 982.551(c), (d), (e), (f), (g) and (j). <br />SAHA Policy <br />Any inspection the PHA conducts after the initial inspection will be done on an advisory <br />basis. The family will be encouraged to make the repairs but will not be required to do so <br />as a condition of ongoing assistance. <br />EXHIBIT 1