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CHAPTER 14: MANAGEMENT AND DISPOSAL OF …
HB-3-3560 CHAPTER 14: MANAGEMENT AND DISPOSAL OF real ESTATE OWNED PROPERTY INTRODUCTION When the Agency takes ownership of a project, adding the property to its inventory through liquidation proceedings, the project becomes real estate owned (REO). When the title transfers to the Agency, the property becomes an Agency asset. The Agency s objectives in managing and selling its inventory of REO properties include: Preserving affordable, decent, safe, and sanitary housing for tenants or potential tenants; Maintaining the value of the housing project; Protecting the Agency s financial interests; Ensuring that the properties comply with state and local code requirements and applicable environmental regulations; and OVERVIEW OF THE CHAPTER This CHAPTER is divided into five sections.
HB-3-3560 CHAPTER 14: MANAGEMENT AND DISPOSAL OF REAL ESTATE OWNED PROPERTY 14.1 INTRODUCTION When the Agency takes ownership of a project, adding the property to its inventory
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