Hidden traps in HUD-sponsored low-income housing loans

Article Abstract:

Some FHA-insured loan prepayments are prohibited by the Low-Income Housing Preservation and Resident Homeownership Act of 1990. Low-income project owners may do nothing, sell the project, or prepay under new Dept of Housing and Urban Development (HUD) rules. Preservation equity loans are encouraged by HUD, but the project owner must evaluate whether the loan would be beneficial over the life of the loan or project.

Residential Building Construction, Administration of Housing Programs, Administration of Housing Programs, Urban Planning, and Development, Low-Moderate Income Housing, Housing and Urban Development, Dept of Housing & Urban Dev, Low Income Housing Prgrms, Laws, regulations and rules, Residential construction, Finance, Public housing, Housing policy, United States. Department of Housing and Urban Development, Mortgages, United States. Federal Housing Administration

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The cumbersome RTC bid process

Article Abstract:

The Resolution Trust Corp's (RTC) bid documents can be complex and extremely long, creating risks for investors. Bidders often must spend large amounts of money to secure information, with no guarantee that their bids will be successful. Bidders also risk missing important points but having no recourse against the RTC, due to the agency's exception- and limitation-filled warranties and representations.

Finance, taxation, & monetary policy, REAL ESTATE, Management, Real estate industry, United States. Resolution Trust Corp.

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