HUD's Inventory of Affordable Multifamily Housing:
Data on Properties with Mortgages Scheduled to Mature and Rental Assistance Set to Expire, an E-supplement to GAO-04-20
GAO-04-210SP: Published: Jan 3, 2004. Publicly Released: Jan 3, 2004.
The Department of Housing and Urban Development (HUD) has subsidized the development of over 23,000 properties by offering owners favorable long-term mortgage financing or rental assistance payments in exchange for owners' commitment to house low-income tenants. When owners pay off mortgages--the mortgages "mature"--the subsidized financing ends, raising the possibility of rent increases. GAO was asked to determine the number of HUD mortgages that are scheduled to mature in the next 10 years, the potential impact on tenants, and what HUD and others can do to keep these properties affordable. This CD-ROM is a companion report to GAO-04-20, and it provides property-level data for subsidized properties with mortgages scheduled to mature.