Let the Government Help Finance Your Apartment Project

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My partner, Charles Leder, and I addressed the advantages of HUD-insured loans for financing construction of new apartment buildings and mixed-used projects as well as for refinancing existing apartment loans in the May 4, 2011 issue of the Colorado Real Estate Journal. We have represented a number of borrowers who have taken advantage of this program in this difficult lending environment. If you have clients interested in constructing or refinancing an apartment project or a mixed-use project, you should give strong consideration to the HUD-insured loan program. The loans are non-recourse, have up to a forty year term, and have attractive interest rates. The main drawback of the program is the amount of time it takes from application to closing. We would be happy to discuss our experience with you.

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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.

© James Kurtz-Phelan | Attorney Advertising

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