Maine § 30-A §4943 Limitations

Maine Statutes

§ 30-A §4943 — Limitations

Maine § 30-A §4943

Title 30-AMUNICIPALITIES AND COUNTIES

Part 2MUNICIPALITIES

Ch. 201HOUSING AUTHORITY

This text of Maine § 30-A §4943 (Limitations) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 30-A, § 30-A §4943 (2026).

Text

The following limitations apply to the Elderly Homeowner Equity Loan Program and the Elderly Homeowner Equity Loan Guarantee Fund under this subchapter.

1.Priority. Priority shall be given to low-income elderly households.

2.Participation. Participation is limited to applicants who are 70 years of age or older.

3.Equity. The Maine State Housing Authority shall not insure, guarantee, purchase or make disbursements on loans for which the loan-to-value ratio exceeds 80%.

4.Use of funds. Loans provided to eligible recipients shall be used only for urgent matters as determined by the Maine State Housing Authority, including payment of property taxes, property maintenance, home care and similar matters.

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The following limitations apply to the Elderly Homeowner Equity Loan Program and the Elderly Homeowner Equity Loan Guarantee Fund under this subchapter.
1.
Priority.
Priority shall be given to low-income elderly households.
2.
Participation.
Participation is limited to applicants who are 70 years of age or older.
3.
Equity.
The Maine State Housing Authority shall not insure, guarantee, purchase or make disbursements on loans for which the loan-to-value ratio exceeds 80%.
4.
Use of funds.
Loans provided to eligible recipients shall be used only for urgent matters as determined by the Maine State Housing Authority, including payment of property taxes, property maintenance, home care and similar matters.