HUD

Cambridge Realty Capital Companies arranges $12.6 million loan for assisted living facility

Cambridge Realty Capital Companies has arranged a $12.6 million HUD Lean loan to refinance The Ponds of Wealshire Assisted Living facility in Lincolnshire, IL.

DOJ approval of $1.2 million deal ends case of owner who used nursing homes as 'piggy banks'

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Federal authorities have agreed to a $1.2 million settlement that would bring a long and complex case of nursing home embezzlement to a close, according to news reports from Rhode Island.

Housing department announces $120 million in funding to help with Olmstead compliance

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State housing agencies can apply for $120 million in new federal funding to support housing options for disabled people transitioning out of long-term care facilities, the Department of Housing and Urban Development recently announced.

Borrowing to build

Borrowing to build

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New construction funding for skilled nursing facilities remains scarce, but lenders say they will listen if operators present a convincing case for building.

Lancaster Pollard helps with $23 million refinancing for AL campus

Lancaster Pollard recently assisted Samaritan Village, a California long-term care community, refinance with $23.3 million to convert a portion of their independent living units into assisted living units. Samaritan Village is operated by Hughson Samaritan Village.

Lancaster Pollard leads in HUD Lean program

Lancaster Pollard generated the largest volume of activity in the U.S. Department of Housing and Urban Development Lean mortgage insurance program for seniors housing, the company announced last week.

Former nursing home executive convicted of embezzlement agrees to $1.2 million settlement in bankruptcy court

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A nursing home executive convicted of embezzling millions of dollars from publicly financed facilities has agreed to pay $1.2 million to the federal government to settle claims, through a deal worked out in U.S. Bankruptcy Court.

Interest-ing times

Interest-ing times

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As interest rates slowly nudge upward and public financing agencies remain under scrutiny, analysts look at the ramifications for skilled nursing and seniors housing

How to do it ... Mortgage financing

FHA-backed mortgages are becoming popular with long-term care facilities as conventional banks are increasingly uncertain about the impact healthcare reform and financing will have on providers' stability. That doesn't mean Federal Housing Administration loans are a slam dunk. Do your homework, watch your bottom line and understand the potential pitfalls, experts advise.

HUD issues rule to pay partial claims under Section 232 insurance program

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The Federal Housing Administration has announced the criteria and process by which it will accept and pay partial payment claims under FHA's Section 232 mortgage insurance contracts, the agency announced Monday.

As HUD gets its house in order, more long-term care operators are buying in

As HUD gets its house in order, more long-term care operators are buying in

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It wasn't so long ago that long-term care operators looked at HUD funding with a disdain bordering on contempt. But the Department of Housing and Urban Development has come a long way in a short time. By staying in the game, offering good rates and speeding up its approval pipeline, this public option has quietly gained a newfound respectability.

Judge orders former nursing home executive to repay $14 million

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A well-known former nursing executive must repay the federal government $13.8 million for fraudulent business practices. U.S. District Court Judge Mary M. Lisi handed down the ruling for the misuse of loans in Anthony Giordano's Rhode Island facilities on Dec. 3.

Nursing home executives settle allegations of mortgage-refinancing scheme

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Three men recently agreed to pay over $5.3 million to settle charges that they issued false statements to secure mortgage financing for three Oklahoma nursing homes.

Feds make millions available for assisted living facility conversion

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The federal government has made $25 million in grant money available for applicants who want to convert multifamily apartment complexes into assisted living communities for low-income seniors.

Housing for seniors, individuals with disabilities the focus of Special Open Door Forum

New federal initiatives to help people with disabilities, including older adults, find housing options will be the subject of a Special Open Door Forum on Tuesday. The 90-minute conference call begins at 11:30 a.m. (Eastern Time). It is open to all interested stakeholders and can be accessed by dialing (800) 837-1935 and using conference ID number 44280806. The forum will focus on ...

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