September 7, 2011
If you are looking for a potential FHA 203k fixer-upper, the HUD mapping portal is a great place to start. The “REO Portal is a consolidated neighborhood listing and mapping tool to assist neighborhood stabilizers in identifying Real-Estate Owned (REO) properties from Fannie Mae, Freddie Mac and FHA in targeted geographies.” All three agencies allow borrowers to use [...]
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September 3, 2011
If you live in Joplin, or any recently declared federal disaster area, and your foundation is intact, then don’t bulldoze it until you explore 203k financing. The FHA 203k loan program allows a buyer to build a new home on an existing foundation. Couple the 203k with an FHA 203(h), which is a loan for homeowners and renters located [...]
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August 20, 2011
FHA 203k Loan Limits Are Dropping In America’s Highest-Cost Areas The Federal Housing Administration will lower certain area loan limits on October 1, effecting all FHA insured programs including the FHA 203k renovation loan program. FHA will be reducing loan limits primarily in America’s highest-cost metropolitan areas. As a result of the change loan limits will decline in 669 [...]
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August 12, 2011
What is an Energy Efficient Mortgage and should I be interested in one? Given the current state of the national economy, many people are wondering what to do to help reverse the decline in their home’s value. One proven option is to increase a home’s energy efficiency through an Energy Efficient Mortgage. To quote RESNET; “… Another [...]
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August 5, 2011
Should We Include New Energy Efficient Windows In Our 203k Renovation Project? One of the primary renovation items that I see in most 203k loan packages are new windows. However, I am always surprised at how little research is completed on the thermal energy efficiency of the chosen window. New materials and insulated glazing have made single (and double-hung) [...]
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August 2, 2011
A Warranty Issue Or Everyday Wear-n-Tear? This week I am dealing with a past 203k customer whose final inspection was late last fall. The customer called to ask for assistance in getting the 203k contractor back out to work on warranty issues. The customer contacted the contractor by letter, noting each item that she felt was not completed according to the [...]
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Could Housing Add 2% To GDP?: Wednesday ~ May 16th, 2012 in Economics | by Karl Smith Charted below is the rel... http://t.co/EI86YXZl - posted on 05/17/2012 14:25
