Section 1.18. Trust fund stabilization loans.

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The department may execute a subordination agreement or release a portion of the property providing security for its mortgage on a loan under s. 45.356 , 1995 Stats., if the mortgagor's equity in the property secured by the mortgage is greater than 15 percent of the property's value after the execution of the subordination agreement or partial release, the applicant is current on the loan and the repayment history for the 6 months immediately preceding the request has been satisfactory.

History: Cr. Register, July, 1998, No. 511 , eff. 8-1-98; 2013 Wis. Act 189 : am. Register April 2014 No. 700 , eff. 5-1-14.

                    
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