Pre-1974 Section 202 Direct Loan Preservation
Preservation of 202 Direct Loan Projects. How Does it Work?

On April 26, 2018, HUD announced the publication of two Housing Notices published this year (described below) there are now comprehensive options for owners of properties with pre-1974 Section 202 Direct Loans to preserve the affordability of these properties by entering into long-term rental assistance contracts. HUD has also developed a 2-page flyer, “Key Concepts for Preservation of Pre-1974 Section 202 Direct Loan Properties,” to assist owners with understanding the preservation options. HUD is also developing a webinar on this topic, which will be announced at a future date.

Summary of Housing Notices