Chapter 16: Entitlements for 90-Day Owner-OccupantsAnchor: #BIHDGCEB
Section 1: Payment OptionsAnchor: #i1003089
A displaced 90-day owner-occupant may receive a replacement housing payment:
- Anchor: #DVOMILJG
- for the additional cost necessary to purchase replacement housing (price differential); Anchor: #VWSGQWQY
- 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 Anchor: #MSAKNGWO
- 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.