HUD and FHA: Still Insuring
Want to get a jump-start on upcoming deals? Meet the major Chicago players at one of our upcoming events!
|Yesterday morning, Reznick Group held a conference on lenders in the multi-family market at the Gleacher Center. We snapped JJD's Michael Mozal and Jerry DeCicco with Kendall Realty Advisors?Charles Kendall. While stimulus money has been slow, Charles' business partner Scott Kendall says they've had success using HUD to finance assisted living and memory care facilities.|
|Developers Mortgage Corp's Alan Cravitz, right, spoke on the panel, joined here by FLS Group LLC's Bruce Schiff and Applegate & Thorne-Thomsen's Mark Burns. Alan talked about HUD?s simple system: it only offers 40-year, fixed rate mortgages. He also noted that most pre-1985 multi-family buildings in Chicago used HUD.|