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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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