HUD Accepting Applications to Purchase Troubled Mortgages

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On July 13, HUD announced that applications may be submitted for the Distressed Asset Stabilization Program to purchase pools of severely distressed loans formerly insured by the FHA. Approximately 3,500 loans will be sold in four metropolitan areas: Chicago, IL; Newark, NJ; Phoenix, AZ; and Tampa, FL. HUD Release.

Published In: Administrative Agency Updates, Finance & Banking Updates, Residential Real Estate Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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