Tag Archives: HUD to sell 40

In an effort to address the country’s shadow inventory and relieve high-foreclosure areas, the U.S. Department of Housing and Urban Development will sell thousands of severely delinquent mortgage loans insured by the Federal Housing Administration. Throughout the summer ahead, HUD will sell approximately 20,000 distressed loans via the Distressed Asset Stabilization Program in an attempt to increase recoveries to FHA’s Mutual Mortgage Insurance Fund from non-performing FHA-insured loans, while contributing to stabilization and recovery in communities that took the hardest hit during the housing recovery. The offerings by HUD will […]