12 U.S. Code § 1715z–5 - Purchase of fee simple title from lessors
The provisions of paragraphs (3), (5), (6), (7), (8), and (10) of section 1715k(h) of this title shall be applicable to loans insured under this section and, as applied to loans insured under this section, references in those paragraphs to “home improvement loans” and “this subsection” shall be construed to refer to loans under this section.
1984—Subsec. (a). Pub. L. 98–479 substituted “purchases” for “purchasers”.
1983—Subsec. (c)(4). Pub. L. 98–181 substituted provision that the interest rate be such rate as agreed upon by the mortgagor and the mortgagee for provision that the interest rate not exceed such per centum per annum, not in excess of 6 per centum, on the amount of the principal obligation outstanding at any time, as the Secretary finds necessary to meet market conditions, and such other charges as approved by the Secretary.
1980—Subsec. (c)(5). Pub. L. 96–399 struck out “or three-quarters of the remaining economic life of the home, whichever is the lesser” after “loan”.
1978—Subsec. (c)(2). Pub. L. 95–557 inserted “($30,000, if the property is located in Hawaii)” after “$10,000”.
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