FAQ

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General FAQ

Below you will find some frequently asked questions, but if you need further information please contact us.

Post-Closing FAQ

Below you will find some frequently asked questions, but if you need further information please contact us.

What types of HUD loans are available?

Section 232 of the National Housing Act (NHA) is for related provisions, construction, and refinancing of residential care facilities.

What types of facilities are eligible?

Will HUD consider non-profit entities for the Section 232 program

How does HUD deal with ALF entrance fees?

What does “LEAN” stand for?

Are there statistics on the number of new projects submitted, the number accepted, and rejected?

When is HUD permission required? 

Permission from HUD is required for certain actions outlined below. However, this is not an inclusive list and a full list of requirements can be found in the regulatory agreement.

Withdrawing money from restricted escrows,

Pledging the rents or income to another party,

Changing principals,

Borrowing, loaning, or pledging assets or changing collateral,

Releasing assets or making distributions,

Requesting mortgage relief,

Threat to permits and approvals,

Remedied items that failed an inspection

Where can I find forms for Section 232 transactions?  

How do I communicate with HUD?  

What is accounts receivable funding? 

Do I need to notify HUD of a change of participant (CHOP)? 

How do I report surplus cash, distributions, and residual receipts? 

What if my property is in trouble? 

What is included in the monthly accounting reports? 

What is a loan modification?

What forms are used for asset management? 

To access HUD’s Section 232 Frequently Asked Questions, click here. HUD’s FAQs are divided into 14 categories which include 60 topics regarding the 232-loan program.