Recapture Agreement Help?

[Tim Wittenborn]

Hey folks,

Just got my track search back for a property tomorrow and found:

---Recapture Agreement recorded (date) as document(number) made by (person) to Illinois Housing Development Authority, to secure a note in the originally stated principal amount of $25,000.00, and to the terms and conditions thereof.

All I can find about a Recapture Agreement is that it is a 0% loan given to certain people from the government for rehab.  I'm assuming that this is the same thing as a mortgage.  If so, this 25k pops the property out of profitable range.

Any info anyone has on exactly what a Recapture Agreement is would be greatly appreciated!  

Thanks all, 

Happy Hunting!

Tim W