Buy and resell to occupants: The Stabilizing Urban Neighborhoods (SUN) program of Boston Community Capital acquires foreclosed properties out of REO at discounted (present-market value) prices and reconveys
them to existing owners and tenants and provides financing through 30-year fixed-rate mortgages, stopping the displacement of families before evictions occur.
Customarily, when the initial purchaser reconveys
title to someone else, the same legal description originally used by the developer is what is used in the subsequent deeds.
The mortgagor either voluntarily or involuntarily reconveys
the property to someone else (mortgagee), or the mortgagor abandons the property and the mortgagee exercises its lien and repossesses the property.
108(a); on the other hand, if the bankrupt or insolvent debtor reconveys
the property in satisfaction of the debt, the transaction would be treated as a sale, with no Sec.