For the purposes of this chapter: (a) âFirst-time homebuyerâ has the same meaning as defined in Section 50068.5. (b) âFundâ means the California Dream for All Fund. (c) âProgramâ means the California Dream for All Program. (d) âShared appreciation loanâ means a deferred-payment subordinate mortgage loan, the repayment of which is based on the amount of the subordinate loan plus the appreciation in the value of the home financed by the loan from the time of purchase to the time the home is sold or refinanced.
‹ Prev All California sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.