HUD PR is HERE.
(Would look for formal notice soon in NSP policy section HERE).
From HUD PR:
New "Foreclosed" definition:
The property is at least 60 days delinquent on its mortgage and the owner has been notified; or the property owner is 90 days or more delinquent on tax payments; or under state or local law, foreclosure proceedings have been initiated or completed; or foreclosure proceedings have been completed and title has been transferred to an intermediary aggregator or servicer that is not an NSP grantee, subrecipient, developer, or end user.
New "Abandoned" Definition:
HUD is expanding the definition of an abandoned property to include homes where no mortgage or tax payments have been made by the property owner for at least 90 days or a code enforcement inspection has determined that the property is not habitable and the owner has taken no corrective actions within 90 days of notification of the deficiencies.
Changes are immediately effective.
Originally created and posted on the Oregon Housing Blog.
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