WASHINGTONNov. 21, 2018 /PRNewswire/ — The U.S. Department of Housing and Urban Development (“HUD”) has announced a HUD-Held Vacant Loan Sale (“HVLS 2019-1”) to be held on December 12th, 2018.  HUD will be offering pools of due and payable Secretary-Held first lien loans secured by 1 to 4 unit, vacant properties where the last surviving borrower is deceased.  The sale will consist of approximately 1,150 notes and a loan balance of approximately $230 million.

In addition to regional pools open to all bidders, this HUD-Held Vacant Loan Sale will, for the first time, include two geographically concentrated mortgage loan pools exclusively for Non-Profits.  Non-Profits will also have the opportunity to bid on a subset of loans from a larger, regional pool.

Entities interested in participating can contact the Asset Sales Office’s Single Family Transaction Specialist at 1-844-709-0763 or email HUDsales@VerdiAssetSales.com for more information.

SOURCE U.S. Department of Housing and Urban Development