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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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