12 Guam Code Ann. § 4116
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Terms Used In 12 Guam Code Ann. § 4116
- 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
e Guam Housing Corporation is hereby authorized to increase its debt to income ratio from thirty-eight percent (38%) to forty-one percent (41%) for the purpose of assisting more families in qualifying for mortgage loans. The debt to income ratio may be in conformance with other government programs, such as the Federal Housing Administration (FHA) and Veterans Administration residential mortgage loan programs.
SOURCE: Added by P.L. 25-12:2.
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ARTICLE 2
COMMUNITY AFFORDABLE HOUSING ACTION TRUST ACT SOURCE: This entire Article was added by P.L. 21-99:2.