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6 Assumptions That Fail the FHA 203(k) Remodel

MS Consultant Gary Smith Remodeling Advice

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.

3 Challenges of Buying and Inspecting a Foreclosure

Sign of Foreclosed Home

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

‘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 more than 30 years, the loan program has recently surged in popularity.