12 CCR s 310.1

Cal. Admin. Code tit. 12, s 310.1

CALIFORNIA CODE OF REGULATIONS
TITLE 12. MILITARY AND VETERANS AFFAIRS
DIVISION 2. DEPARTMENT OF VETERANS' AFFAIRS
CHAPTER 2. VETERANS' FARM AND HOME PURCHASES
SUBCHAPTER 1. ELIGIBILITY AND QUALIFICATIONS
This database is current through 12/22/06, Register 2006, No. 51.
s 310.1. Limitations.

The maximum principal payment deferment period shall be five (5) years and
the total loan contract term cannot exceed forty (40) years. The other
limitations are as follows:
(a) Subsequent deferment periods shall not exceed two (2) years, with
cumulative deferment periods being less than, or equal to, five (5) years.

(b) In order to obtain a subsequent deferment the applicant shall submit a
request in writing to the Department at least forty-five (45) days prior
to expiration of the previous deferment. Granting a subsequent deferment
shall not be automatic, but shall be granted based on current analysis of
applicant's income position.

(c) Applicants who qualify for normal amortized loan payments shall not be
eligible for the Program.

(d) Applicants applying for a farm loan shall not be eligible for
participation in the Program.

Note: Authority cited: Section 700, Military and Veterans Code.
Reference: Sections 987.56 and 987.71, Military and Veterans Code.

HISTORY

1. New section filed 11-12-91; operative 12-12-91 (Register 92, No. 7).

12 CCR s 310.1, 12 CA ADC s 310.1
1CAC

12 CA ADC s 310.1

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