What is the name of your state (only U.S. law)? NC
I received a letter about my grandmothers recapture of a subsidized loan. It said loans after October 1, 1979 were subject to a repayment of the subsidized loan. My great grandmother bought the house in May 1979 but died in November of the same year. In May 1980 my grandmother signed an assumption form for the loan. If the original date of purchase was before the law came into effect is she responsible for paying the subsidy back?
I received a letter about my grandmothers recapture of a subsidized loan. It said loans after October 1, 1979 were subject to a repayment of the subsidized loan. My great grandmother bought the house in May 1979 but died in November of the same year. In May 1980 my grandmother signed an assumption form for the loan. If the original date of purchase was before the law came into effect is she responsible for paying the subsidy back?