(

a) Notwithstanding any other law, the department may approve the extension of a loan to an owner who occupies his or her housing unit funded by the department under any of the following loan programs: the owner component of the California Natural Disaster Assistance Act Program established by

Chapter 6.5 (commencing with

Section 50660), the California Homeownership Assistance Program established by

Chapter 10 (commencing with

Section 50775), the owner component of the California Housing Rehabilitation Program established by

Chapter 6.5 (commencing with 50668), the owner component of the Deferred Payment Rehabilitation Loan Program established by

Chapter 6.5 (commencing with

Section 50660), the owner component of the State Earthquake Rehabilitation Assistance Program established by

Chapter 6.5 (commencing with

Section 50671), and the owner component of the Mobilehome Park Resident Ownership Program established by

Chapter 11 (commencing with

Section 50780). (

b) A loan extension for a period of years may be granted when the loan is due if the owner demonstrates that his or her household income is no more percent of area median income, adjusted for family size, or if the department determines that it is not in the department’s interest to call the loan due. (

c) Loan terms contained in the existing promissory note shall apply during the period of the loan extension. All unpaid principal and interest shall be due at the end of the extension. However, the department may require periodic payments of principal or interest, or both, during the extension period. If the borrower repays the loan prior to the end of the extension, program restrictions shall be removed. As necessary to generate sufficient revenue to cover the cost of processing loan transactions and long-term monitoring of program requirements, the department may also assess loan processing and monitoring fees. (

d) The department may implement this

section through guidelines that shall not be subject to

Chapter 2.5 (commencing with

Section 11340) of Part of Title of the Government Code.