Billions
of dollars in debt restructuring are expected in the Mark-to-Market
program. Lenders will play a critical role in the M2M program. A
modification of an existing loan, or a new take out financing (e.g.,
a conventional, FHA, or HFA-risk sharing), will be required to complete
successful full restructuring transactions. The existing lender
will be invited to a kickoff meeting and will have the opportunity
to offer financing.
Regardless
of the financing alternative selected by the owner, the PAE must
ensure the terms are competitive and consistent with the Restructuring
Plan recommended to OAHP.
Closing
questions? Please contact JoAnne Garrison at OAHP HQ at (202) 402-8376.
Post-Closing
questions? Please contact Patricia Toadvine at OAHP HQ at (202)
402-8385.
Find
out more about M2M Closings:
Other
Closing/Post Closing Information:
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Closing Hotline: (202) 402-8390 |
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Closing Fax Number: (202) 708-5755 |
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