Announcing the HUD-Held Vacant Loan Sale 2024-1 ("HVLS 2024-1")
WASHINGTON, Nov. 1, 2023 /PRNewswire/ -- The U.S. Department of Housing and Urban Development ("HUD") has announced HUD-Held Vacant Loan Sale ("HVLS 2024-1"):
- On December 5, 2023, HUD will offer multiple residential mortgage loan consisting of approximately 1,558 notes and updated loan balance of approximately $394 million.
- The sale will consist of due and payable HUD-Held loans. The loans are first liens secured by home equity conversion mortgages (HECM's) securing 1- to 4-unit, vacant residential properties where all borrowers and any non-borrowing spouses are deceased.
- Eligible Bidder types for the HVLS 2024-1 loan sale auction are non-profits, non-profit joint ventures, non-profit instrumentalities of government, governmental entities or instrumentalities of government, governmental entity joint ventures, or for-profits.
Entities interested in participating can contact the Office of Asset Sales' Single Family Transaction Specialist at 1-844-709-0763 or email [email protected] for more information.
SOURCE The U.S. Department of Housing and Urban Development
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