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Multifamily Housing

United States. Congress. House. Committee on Financial Services. Subcommittee on Housing and Community Opportunity

Published: 2004

Total Pages: 308


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This book describes how to challenge HUD decisions to foreclose on cooperative and nonprofit owners of subsidized housing. HUD's statutory, regulatory, and HUD Handbook authority over the foreclosure, disposition, and transfer of the physical assets of HUD subsidized property is examined in detail.
Identifies the costs of the current Program for projects in the processing pipeline, assessing the impact of Preservation on tenants, and evaluating alternatives to the current Preservation Program. It was part of a nationwide cooperative effort on the part of the HUD program staff, the Office of Inspector General, tenants, and housing interest groups to identify possible solutions to a flawed program. The study included input from HUD program staff, IG staff, owners of HUD-insured projects and tenant groups. It also drew upon previous audit reports, as well as studies and published by organizations within the housing industry.