Mortgage Insurance Cooperative Projects
Department Of Housing And Urban Development, Asst Secretary For Housing--federal Housing Commissioner
Enables nonprofit cooperative ownership housing corporations or trusts to develop or sponsor the development of housing projects to be operated as cooperatives. Section 213 allows investors to provide good quality multifamily housing to be sold to such nonprofit corporations or trusts upon completion of construction or rehabilitation.
Jargon-free version
Helps cooperative housing projects finance new construction and major renovations. Provides mortgage insurance for purchasing these properties.
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