Alaska Statutes 18.56.205 – Residential mortgage assistance for members of the Alaska delegation to Congress
Current as of: 2023 | Check for updates
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Terms Used In Alaska Statutes 18.56.205
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
The corporation may extend the special mortgage loan purchase program under Alaska Stat. § 18.56.098 to purchase a mortgage loan made for the purchase or rehabilitation of a residence located in the District of Columbia or within 50 miles of the District of Columbia to a member of the United States Congress from Alaska if the member is otherwise qualified for assistance under the special mortgage loan purchase program.