Refinancing a Moderately Priced Dwelling Unit (MPDU) During the Control PeriodFind more information from the following link(s):
An MPDU owner is allowed to refinance their MPDU or take out a home equity loan. During the control period for the MPDU, the owner may not refinance their MPDU for more than the current MPDU resale value. Reverse mortgages are not allowed on an MPDU. An MPDU does not have a "market value" until the control period expires on the unit.
Before refinancing or taking out a home equity loan, an owner must obtain a letter from the MPDU office which states the current MPDU resale value of the property. Information on requesting the current resale value of an MPDU is available on the MPDU website, accessible by clicking on the link below.
Obtaining a MPDU Resale Price