Chapter 16: Entitlements for 90-Day Owner-Occupants

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Section 1: Payment Options

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Overview

A displaced 90-day owner-occupant may receive a replacement housing payment:

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  • for the additional cost necessary to purchase replacement housing (price differential);
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  • to compensate the owner for loss of favorable financing on his existing mortgage in financing of replacement housing if the owner has a 180-day bona fide mortgage on the displacement dwelling; and
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  • to reimburse the owner for certain incidental expenses related to the purchase of replacement housing.

The combined total of these amounts may not exceed $31,000. If the displaced owner elects to rent a replacement dwelling, he may be eligible for a rental assistance payment not to exceed what he would receive under the price differential option.

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