Regulation .02 Objectives.

Provide for the sale of single-family properties owned by the Department as a result of the Department's acquisition at foreclosure sale or by deed in lieu of foreclosure following a borrower default under the several loan programs or mortgage insurance program operated by the Department;

Encourage the health and vitality of communities where these properties are located by reducing the period of vacancy for these properties and facilitating renovation and homeownership of these properties; and

Encourage the participation of nonprofit organizations that work in these communities by allowing the nonprofit organizations to purchase these properties in order to return them to homeownership status.