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MS Consultant Gary Smith Remodeling Advice

6 Assumptions That Fail the FHA 203(k) Remodel

It’s not wise to take on any project without doing a little homework. With respect to the 203(k) talk it up, ask for recommendations and begin to gather an experienced “team” of professionals. You’ll be the team’s coach.

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Sign of Foreclosed Home

3 Challenges of Buying and Inspecting a Foreclosure

I got a call yesterday to inspect a home in foreclosure. For the inexperienced inspector, this could be quite the challenge. We have little to no access to data or history about the properties we inspect and when the home is owned by a bank or other governmental agency the opportunity to ask questions or uncover […]

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rent-vs-buy

Rent vs Own

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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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