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<br /> Administrative Plan 7/1/2025 <br />. <br />Page 15-32 <br />15-VII.J. MAXIMUM TERM OF HOMEOWNER ASSISTANCE [24 CFR 982.634] <br />Except in the case of a family that qualifies as an elderly or disabled family, other family <br />members (described below) shall not receive homeownership assistance for more than: <br /> Fifteen years, if the initial mortgage incurred to finance purchase of the home has a term of <br />20 years or longer; or <br /> Ten years, in all other cases. <br />The maximum term described above applies to any member of the family who: <br /> Has an ownership interest in the unit during the time that homeownership payments are <br />made; or <br /> Is the spouse of any member of the household who has an ownership interest in the unit <br />during the time homeownership payments are made. <br />In the case of an elderly family, the exception only applies if the family qualifies as an elderly <br />family at the start of homeownership assistance. In the case of a disabled family, the exception <br />applies if at any time during receipt of homeownership assistance the family qualifies as a <br />disabled family. <br />If, during the course of homeownership assistance, the family ceases to qualify as a disabled or <br />elderly family, the maximum term becomes applicable from the date homeownership assistance <br />commenced. However, such a family must be provided at least 6 months of homeownership <br />assistance after the maximum term becomes applicable (provided the family is otherwise eligible <br />to receive homeownership assistance). <br />If the family has received such assistance for different homes, or from different PHAs, the total <br />of such assistance terms is subject to the maximum term described in this part. <br />EXHIBIT 1