203k: FHA 203(k) rehabilitation loans
- 03/23/11 04:49 AM
As the real estate market dropped so did many of the programs lenders offered, one of these was the FHA 203(k) rehabilitation loan. I am glad to say that they are now back. Hopefully this is a sign that the market is improving as it could offer a great option for many of the foreclosures that are in slightly less than liveable condition. Banks are not likely to invest in a foreclosed property they own to meet FHA requirements for a sale and a buyer should not invest in a property they do not own. This leaves the seller looking for … (0 comments)
As the real estate market dropped so did many of the programs lenders offered, one of these was the FHA 203(k) rehabilitation loan. I am glad to say that they are now back. Hopefully this is a sign that the market is improving as it could offer a great option for many of the foreclosures that are in slightly less than liveable condition. Banks are not likely to invest in a foreclosed property they own to meet FHA requirements for a sale and a buyer should not invest in a property they do not own. This leaves the seller looking for … (0 comments)
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