Repaid loans are reused for new repairs on the same terms
What the document says“If a loan made by an implementing organization under paragraph (2)(B) is not forgiven, the loan repayment funds shall be reused by the implementing organization for a new whole-home repair grant or loan under this subsection, which shall remain subject to the original terms of the assistance awarded under this subsection.”
The section provides that where a loan is not forgiven, the repayments are reused by the implementing organization for a new whole-home repair grant or loan, still subject to the original terms of the assistance.
What the document actually says“If a loan made by an implementing organization under paragraph (2)(B) is not forgiven, the loan repayment funds shall be reused by the implementing organization for a new whole-home repair grant or loan under this subsection, which shall remain subject to the original terms of the assistance awarded under this subsection.”
Some loans are paid back. That money is used again. It funds a new repair grant or loan under the same rules.
This keeps the money in the program. It does not go back to the Treasury. The same terms follow it to the next home.
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