HHC Finance Closes Over $210 Million in HUD Loan Modifications in March & April
CHEVY CHASE, MD, May 2015 - Housing & Healthcare Finance (HHC Finance), the #1 HUD healthcare lender in the country, closed over $210 million in HUD loan modifications for 26 skilled nursing facilities in March and April. The facilities are located in 14 different states, and the owners range from single property owners to a publicly-traded real estate investment trust (REIT).
The 26 loan modifications resulted in substantial interest rate reductions for HHC's customers.
“We were prepared to act quickly on the modifications when interest rates started to drop again in January,” said HHC Finance in a statement.
HUD introduced the loan modification program as a streamlined way for its borrowers in good standing to reduce their interest rates without extending their loan terms or getting additional loan proceeds.
About Housing & Healthcare Finance, LLC
Founded in 2002, Housing & Healthcare Finance, LLC (HHC Finance) is the leading HUD healthcare lender in the U.S. finishing HUD’s FY 2014 with over $748 million in loans closed. In addition to HUD healthcare and multifamily loans, HHC Finance provides line of credit and bridge financing. The Company’s expertise in the healthcare and multifamily markets allows it to provide loans that address all of its borrowers’ financing needs. The Company is headquartered in Chevy Chase, MD and has additional offices in New York, Pennsylvania, New Jersey, Ohio, Illinois, Wisconsin, and California. For more information, please visit www.hhcfinance.com or email email@example.com.