The Department of Housing and Urban Development published a notice in the Federal Register that announced its intention to sell 1,265 HECM notes secured by vacant properties with an updated loan balance of $346 million.
The sale will consist of due and payable Secretary-held HECMs where all borrowers are deceased, and no borrower is survived by a non-borrowing spouse.
- HUD will prioritize up to 50 percent of the offered assets for award to nonprofit organizations or governmental entity bidders with a documented housing mission.
- This is the twelfth sale offering of its type and will be held on May 7, 2024. For more information, visit Falcon Asset Sales.
