Laserfiche WebLink
2 <br />A B C D E F G <br />January 1, 2021 " Last Resort " Emergency Deferred Mobile Home Improvement <br />Program Senior Deferred Multi Family <br />Improvement Loan Home Improvement <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />Post-Install Inspection <br />Contractors/ Permits <br />Bids <br />Work Completion <br />All work must be completed within 30 days <br />of the loan closing. However, when <br />warranted, CEE may authorize extensions <br />on a case by case basis as warranted. <br />Underwriting <br /> Applicant's must not be able to qualify for <br />any other financing administered by CEE to <br />be eligible for the Emergency Last Resort <br />Program. In addition, applicants must <br />also: <br />* Be current on all mortgage payments <br />* Be current on all real estate taxes and <br />assessments <br />* Not have any unpaid judgments or liens <br />* Have a pending Bankruptcy or <br />foreclosure <br /> In addition to CEE's standard <br />underwriting criteria, applicants must: <br />* Not have any payments more than 90- <br />days late in the past 12 months; <br />(without approval by the city) <br />* No Bankruptcy in the past 18 Months <br />(without reasonable explanation) <br />* Be current on all mortgage payments <br />* Be current on all real estate taxes <br />Applicants must: <br />* Be current on all mortage payments <br />* Be current on all real estate taxes and <br />assessments <br />* Not have any unpaid judgements or <br />liens <br />* Not have a pending bankruptcy or <br />foreclosure <br /> In addition to CEE's standard <br />underwriting criteria, applicants must: <br />* Not have any payments more than 90- <br />days late in the past 12 months; <br />(without approval by the city) <br />* No Bankruptcy in the past 18 Months <br />(without reasonable explanation) <br />* Be current on all mortgage payments <br />* Be current on all real estate taxes <br />Disbursement of Funds <br />Loan Servicing <br />Annual Admin Fee <br />Prior to the release of loan proceeds, the property is subject to inspection by a CEE representative or, where a permit is required, work must be signed off by a City inspector <br />1 bid is required. Bids must detail the scope of the work to be completed, the associated cost(s) and any rebates <br />Contractors must be properly licensed. Permits must be obtained when required <br />Funds are held by CEE in a and payment is made to the contractor (or owner in sweat equity situations) upon completion of work. <br />An inspection will be performed by the City and/or CEE to verify completion of the work. The following items (and any additional as determined by CEE) must be received prior to final disbursement of funds: <br />1. Final invoice from contractor (or materials list from supplier) <br />2. Final inspection verification by CEE (if necessary) <br />3. Completion certificate(s) signed by borrower and contractor <br />4. Lien waiver for entire cost of work and <br />5. Evidence of required city permit, where applicable <br />CEE or CRF <br />All work must be completed within 120 <br />days of the loan closing. However, <br />when warranted, CEE may authorize <br />extensions on a case by case basis as <br />warranted. <br /> In addition to CEE's standard <br />underwriting criteria, applicants must: <br />* Not have any payments more than 90- <br />days late in the past 12 months; <br />(without approval by the city) <br />* No Bankruptcy in the past 18 Months <br />(without reasonable explanation) <br />* Be current on all mortgage payments <br />* Be current on all real estate taxes <br />$2,500 <br />All work must be completed within 120 days of the loan closing. However, when warranted, CEE may authorize extensions <br />on a case by case basis.