HUD has released a Frequently Asked Questions (FAQ) document to accompany Housing Notice 2012-08, which provides guidance for the prepayment and refinancing of Section 202 Direct Loan projects. Notice 2012-08 also The FAQ document is categorized into sections that provide clarifications to issues such as process, use of funds, Section 8 contract renewals and rent setting, use of proceeds, debt service savings, etc. This document also indicates that HUD intends to issue an update to Notice 2012-08 within the next few months.
Click here to read the FAQ document.
