$2,108,792 HUD Section 232 Note Modification for a Maryland skilled nursing facility

Egle Nursing Home, a 66 bed skilled nursing facility in Lonaconing, Maryland, had a HUD guaranteed loan in place with a 6.5% interest rate.  Given upcoming changes in Maryland’s Medicaid reimbursement system, finding opportunities to reduce costs became critical.  HFC suggested HUD’s new, low cost Note Modification program through their existing lender to reset the […]

$3,841,300 HUD Section 232/(a)7 refinance for a 63 bed skilled nursing facility together with the approval of a $300,000 Line of Credit

Mid-Atlantic Healthcare, a growing chain of skilled nursing facilities purchased Chapel Hill Nursing and Rehabilitation Center in Randallstown, Maryland in June 2008, subject to a HUD guaranteed financing already in place. At that time, HFC had obtained the Transfer of Physical Assets approval from HUD to permit the purchase. HFC suggested that Mid-Atlantic pursue an […]