| ID | Status | Date | Public/Private | Industry | AHACPA Contact |
|---|---|---|---|---|---|
| #14805 | Closed | public | Multifamily | _General Support |
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Hello – A couple questions. On a Section 232 property, are related party balances only allowed to be paid back with surplus cash? Also, is the mortgagor’s certification a required piece of the financial statements? Thank you! |
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Generally related party items are only allowed to be paid with surplus cash unless approved by HUD. Also, the mortgagor’s certification is always required with the financial submission. Les Sparks |
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