Section 160. Repairs

The authority shall have the right to inspect the home from time to time, to require the borrower to make such repairs as are determined by the authority to be necessary to maintain the home in good condition, and, if such repairs are not promptly made, to cause such repairs to be made and to disburse equity payments under the borrower's home equity account to the parties performing such repairs in amounts necessary to pay the costs thereof.

Historical Notes

Derived from VR400-02-0015 § 4.9, eff. July 19, 1988; amended, Volume 05, Issue 06, eff. November 21, 1988; Volume 05, Issue 21, eff. July 1, 1989.

Statutory Authority

§ 36-55.30:3 of the Code of Virginia.