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The Loan Management Set-Aside (LMSA) Family Program

The Loan Management Set-Aside (LMSA) Family Program provides financial assistance in the form of rental subsidies to multifamily properties that are experiencing potentially serious financial problems. The purpose of the loan is to maintain the housing under the Section 8 program while continuing to allow a low rental rate for tenants, financial stability for the landlord, and an opportunity for structural improvements for the building. If you are a landlord seeking to join this program, you must have your property financed with a HUD-insured or HUD-held mortgage and provide a thorough plan for utilization of funds upon submission of application. The property must continue to service Section 8 tenants throughout the term of the loan contract (which is a minimum of 5 years).

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