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Gary Smith - Home Inspector - Picture of House on Money

Do I Really Really Need a Real Estate Agent?

Let’s cut to the chase…unless you’re ready, willing and able to do and have ALL of the following: Locate potential property. Schedule appointment to see property. Know the market trends in the neighborhood Know school district lines Contact “The Right Lender” Can locate parks and recreation, shopping and places of worship Got the inside of […]

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Remodel Budget

203(k) Budget Allowances – I could use some extra money!

Mr Smith,  I was wondering some things about the construction bid on our house in Natchez. If the contractor has given me an allowance for an item, and I don’t use the entire allowance, can the access amount be rolled to another item? For example: an allowance of $250 for a vent hood, but I find […]

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Proposed Rule Will Eliminate the FHA Inspector Roster

Streamlining Inspection and Warranty Requirements for Federal Housing Administration (FHA) Single-Family Mortgage Insurance: Removal of the FHA Inspector Roster and of the Ten-Year Protection Plan Requirements for High Loan-to-Value Ratio Mortgages In February of this year HUD proposed this rule change: If passed, HUD proposes to eliminate its national Inspector Roster (Roster). The Roster is a list […]

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Appraisers Performing Your Home Inspection – This Could Get Messy

We have a very messy smelly soup brewing. It relates to certain federal governmental agencies promoting the appraisal industry to perform property evaluations (AKA – Home Inspection). ASHI, the association of which I am a proud member, and its Board are doing everything possible to resolve this issue sensibly.  However, ASHI will need your help. Since appraisers […]

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‘Rehab’ Loans to the Rescue

In the end it was another loan that came to the Mercados’ rescue: the Federal Housing Administration’s 203(k), also known as the F.H.A. rehab loan, which is designed to cover not only buying the home but also renovating it, and is then paid back like a regular mortgage. A hybrid that has been around for […]

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5 Reasons Your First Mortgage Should Be a Home Improvement Loan

Instead of making your first mortgage experience a frustrating one, turn it back into a great time full of dreams and possibilities. You can do this with home improvement loans like the FHA 203k and HomePath Renovation. These options can help you turn a fixer-upper into a diamond in the rough, eventually getting your dream […]

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Refinancing America 2012: Can the Obama Plan Fix the Housing Market?

One of the focuses of each of these plans is homeowners who pay their mortgage bills despite the fact that home values have dropped and many homes are now “underwater.” This means their values are below what’s owed to the bank. Many of these mortgages also have interest rates nearly double the current current interest […]

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White Paper Supports Bringing Back the 203K Investor Loan

Increased Lending and More Loan Modifications and Short Sales, Key to Recovery, Say Realtors(R)

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