HUD Issues Notice on Refinancing Section 202 Housing for the Elderly

HUD’s Office of Multifamily Housing Programs recently issued Notice H 2018-02, providing guidance to owners of pre-1974 Section 202 Direct Loan sites serving the elderly that have the option of refinancing to make capital improvements and/or to reduce the interest rate. The notice is a supplement to Housing Notice H 20013-17, otherwise known as the HUD 202 Direct Loan Prepayment Notice.