HUD Selling Vacant Property Loans

More than $100 million in formerly government-insured mortgages secured by the vacant properties of deceased borrowers are being auctioned.

The offering from the Department of Housing and Urban Development is for approximately 650 notes that have an aggregate unpaid principal balance of $136 million.

The residential loans are first liens secured by vacant one-to-four-unit properties. The last surviving borrowers on the loans are deceased.


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From:: Financing

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