What must a tribe do to participate in the HUD 184 Loan Guarantee Program?
A tribe with tribal court jurisdiction over the property needs to have the following in place: • Foreclosure Procedures • Eviction Procedures • Procedures giving the HUD Guaranteed Loan first lien priority or otherwise ensuring that the guaranteed loan will be satisfied before all other property debts (except tribal taxes) • Ensure that HUD and/or private lenders have access to tribal lands for the purpose of servicing and evaluating guaranteed properties. • If there is tribal trust land, ensure acceptable lease is in place.
Related Questions
- If my proposed project requires less than a $25 million loan, will it be cost-effective to participate in DOE’s Loan Guarantee Program given the amount of the fees?
- What must a tribe do to participate in the HUD 184 Loan Guarantee Program?
- Are all businesses eligible to participate in the loan guarantee program?
