HUD ANNOUNCES $111 MILLION LOAN SALE

WASHINGTON - The U.S. Department of Housing and Urban Development today announced that it will sell nearly 6,000 loans totaling $111 million made under HUD's Section 312 Rehabilitation Loan Program.

HUD's Section 312 program was repealed in 1990 and new loan commitments ceased nearly a decade ago. The program was structured to offer low-interest loans for the rehabilitation of properties in distressed urban neighborhoods. More than $1.6 billion in single- and multi-family loans helped to restore more than 106,000 homes in some of the nation's most blighted inner-city neighborhoods over the life of the program.

HUD is offering a two-page sales brochure to provide further details of the Internet-based transaction. To order a Bid Package, it is necessary to complete and submit a Confidentiality Agreement and a Bidder Qualification Statement.

Hanover Capital Partners Ltd. will manage the sale and will act as HUD's financial adviser. To obtain HUD's sales brochure, Confidentiality Agreement and a Bidder Qualification Statement, call (800) 909-1244, send an email to hud312@hanovercapital.com or visit www.hanovertrade.com.

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