rehabilitation

(2) For the purpose of this subsection— (A) the term “rehabilitation loan” means a loan, advance of credit, or purchase of an obligation representing a loan or advance of credit, made for the purpose of financing— (i) the rehabilitation of an existing one- to four-unit structure which will be used primarily for residential purposes; (ii) the rehabilitation of such a structure and the refinancing of the outstanding indebtedness on such structure and the real property on which the structure is located; or (iii) the rehabilitation of such a structure and the purchase of the structure and the real property on which it is located; and (B) the term “rehabilitation” means the improvement (including improvements designed to meet cost-effective energy conservation standards prescribed by the Secretary) or repair of a structure, or facilities in connection with a structure, and may include the provision of such sanitary or other facilities as are required by applicable codes, a community development plan, or a statewide property insurance plan to be provided by the owner or tenant of the project. The term “rehabilitation” may also include measures to evaluate and reduce lead-based paint hazards, as such terms are defined in section 4851b of title 42 .

Source

12 USC § 1709(k)(2)


Scoping language

None identified. Default scope is assumed to be the entire title.
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