WASHINGTON, April 14, 2023 /PRNewswire/ — The U.S. Department of Housing and Urban Development (“HUD”) has announced HUD- Held Vacant Loan Sale (“HVLS 2023-1”):
- On May 23, 2023, HUD will offer multiple residential mortgage loans consisting of approximately 1,237 notes and loan balance of approximately $319 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.
- Up to fifty percent of the mortgage loans being offered in HVLS 2023-1 may be awarded on a priority basis to nonprofit organizations and governmental entities with a documented housing mission.
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
Originally published at https://www.prnewswire.com/news-releases/announcing-the-hud-held-vacant-loan-sale-2023-1-hvls-2023-1-301797034.html