NSP FAQ
Q

Are soft second mortgages permitted under NSP?

Date Published: October 2012

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A

Yes. Soft second mortgages can be provided in two ways. First they can be provided directly to buyers of vacant, foreclosed or abandoned properties.  Second, grantees that provide construction assistance to developers can allow some of that assistance to remain in the deal as a soft second loan for the buyer.


Tags: NSP Underwriting and Project Selection - Structuring Financial Assistance Models

FAQ ID:

1153