M2M Process for Debt Restructuring

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• Owner requests Section 8 contract renewal option (in accordance with Section 8 Renewal Policy Guide Book) 120 days before Section 8 Contract Expires
  
• OAHP assigns property to PAE for debt restructuring or rent reduction only (OAHP lite)*
  
• OAHP notifies owner of PAE assigned to property
  
• Kick off meeting held with owner and PAE
  
• Owner performs data collection PAE performs due diligence
  
• Tenant meeting held PAE performs underwriting
  
• Tenant meeting held PAE submits restructuring plan to OAHP
  
• OAHP reviews and approves plan
  
• Owner executes restructuring commitment
  
• Closing

*See Operating Procedures Guide: Chapter 10 for renewal with a rent reduction only (OAHP-Lite) process.

Owners/agents may find appraisers to perform the subject rent study via the national registry maintained by the Appraisal Subcommittee which lists all state licensed/certified appraisers.