Nev. Admin. Code § 319.564

Current through October 11, 2024

Section 319.564 - "Deferred mortgage loan" defined

"Deferred mortgage loan" means a loan, the repayment of which is deferred, that is:

1. Made to an eligible applicant for the payment of the down payment or the closing costs, or both, for an eligible residence;

2. Evidenced by a deferred loan agreement; and

3. Secured by a second deed of trust.

Nev. Admin. Code § 319.564

Added to NAC by Housing Div. by R136-03, eff. 11-26-2003

NRS 319.140, 319.145, 319.210