NH&RA Member firm Lancaster Pollard recently published an article “HUD Updates: Refinancing 202 Properties” which details the recent changes HUD has made to the Section 202 program. There have been several modifications that will directly benefit nonprofit property owners looking to prepay and refinance existing 202 loans. The major changes involve the extended use agreements, housing assistance payment (HAP) contracts and the approved use of loan proceeds.
Click here to read the article in its entirety on Lancaster Pollard’s website.
