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Real Estate Articles

  • Winterization Requirements:

    Properties are to be winterized between October 1 and March 31, unless, climatic conditions require earlier and extended winterization treatment periods. Properties should only be winterized once. However, a property should be re-winterized if the init...
  • Yard Maintenance and Snow Removal:

    Grass cuts (initial and subsequent cuts) include mowing, weeding, edge trimming, sweeping of all paved areas, and removal of all lawn clippings, related cuttings, and incidental debris (newspapers, flyers, bottles, etc.) removal. The disposal of all clipp...  more
  • Securing

    Properties must be secured to prevent unauthorized entry and protect against weather-related damage. All exterior doors shall be secured. The mortgagee is also responsible for the following
    securing activities
  • Securing

    Properties must be secured to prevent unauthorized entry and protect against weather-related damage. All exterior doors shall be secured. The mortgagee is also responsible for the following
    securing activities
  • Securing

    Properties must be secured to prevent unauthorized entry and protect against weather-related damage. All exterior doors shall be secured. The mortgagee is also responsible for the following
    securing activities
  • Boarding

    Reimbursement for boarding is provided on a “per opening” basis, up to the maximum allowance per property. The Mortgagee shall be reimbursed for boarding when the following conditions are
    met:
  • Photograph

    All photographs shall be dated and labeled. If photographs are not included at the time of the claim review, the expenses will be disallowed
  • Conveyance of Properties

    Mortgagees may convey damaged properties without prior written approval if there is damage resulting from Mortgagor neglect and the damage was discovered and documented at the initial inspection.
  • Acceptable Conveyance Condition

    At the time of conveyance to HUD, a property must be undamaged by fire, flood, earthquake, hurricane, tornado, or mortgagee neglect, as set forth in and required by 24 CFR §203.378.
  • Maximum Property Preservation Allowance and Over-Allowable Expense Request

    The maximum property preservation allowance is the maximum reimbursement for all P&P expenses on an individual property without MCM approval. Maximum amounts for individual items are set forth in Exhibit B- “Maximum Property Preservation Allowance”. All r...  more