HUD HOC Reference Guide
223(e) Declining Urban AreasChapter 1
Appraisal & Property Requirements
Purpose and General Information: HUD Handbook 4260.1 Miscellaneous Type Home Mortgage Insurance Section 223(a), (e), and (d), HUD Handbook 4155.2 Chapter 1.C.9 Section 223(e) Miscellaneous housing Insurance. The purpose of Section 223(e) is to permit the use of FHA mortgage insurance in older, declining urban areas where there is a need for affordable housing. A mortgage may be insured pursuant to Section 223(e) for the repair, rehabilitation, construction, or purchase of properties in older, declining urban areas. For property eligibility and appraising under Section 223(e) see HUD Handbook 4155.1 Chapter 4. The ADP CODE for a 223(e) is 792.
|Content Archived: October 25, 2012|