The U.S. Department of Housing and Urban Development has announced its intention to sell certain unsubsidized multifamily and healthcare mortgage loans, without Federal Housing Administration (FHA) insurance, in a competitive, sealed bid sale. The loans are primarily nonperforming. Bids for the loans must be submitted on the bid date, which is currently scheduled for February 4; HUD anticipates making awards on or before February 5, with closings expected during February 11-18. The HUD notice, which doesn’t note the amount of loans to be offered, also describes the bidding process and general requirements. read more…
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