Will I have to pay back my CDBG Rehab loan that I recieved from the Housing Division??
All loans provided by the Waltham Housing Department are interest free, have no monthly payments, and are payable upon sale or transfer of the property.
If you are determined eligible for a Rehab Loan you will have a loan closing much like the loan closing you had when you purchased your home. The loan isin the form of a mortgage (lein) that is placed on your property. If you try to sell your property or transfer the deed you will have to repay the loan.