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.
The auction of the secretary-held loans, dubbed HVLS 2018-1, takes place on April 11.
Interested investors can contact HUD’s asset sales office
single-family transaction specialist at 844.709.0763 or [email protected].
