Longwood Gardens Flowers & How To Use FHA 203(k) 8/11/11

How The FHA 203(k) Progran Can Be Used - HUD Guidelines

This program can be used to accomplish rehabilitation and/or improvement of an existing one-to-four unit dwelling in one of three ways:

-   To purchase a dwelling and the land on which the dwelling is located and rehabilitate it.
-   To purchase a dwelling on another site, move it onto a new foundation on the mortgaged property and rehabilitate it.
-   To refinance existing liens secured against the subject property and rehabilitate such a dwelling.

To purchase a dwelling and the land on which the dwelling is located and rehabilitate it, and to refinance existing indebtedness and rehabilitate such a dwelling, the mortgage must be a first lien on the property and the loan proceeds (other than rehabilitation funds) must be available before the rehabilitation begins.

To purchase a dwelling on another site, move it onto a new foundation and rehabilitate it, the mortgage must be a first lien on the property; however, loan proceeds for the moving of the house cannot be made available until the unit is attached to the new foundation.

Longwood Gardens - Dolores and I enjoy frequent visits to Longwood Gardens in Kennett Square, Pennsylvania.  Encompassing more than 1,077 acres, Longwood Gardens is a place of unparalleled beauty, offering dazzling displays that elevate the artistry of horticulture as will as an array of innovative educational programs.  You will enjoy the Gardens and the grand Conservatory. www.LongwoodGardens.org  

 

Roy and Dolores Kelley visited Longwood Gardens on June 5, 2011. This is one of our favorite destinations. Canon PowerShot G11 camera. Photographs by Roy Kelley.

We represent home buyers and sellers as their exclusive agents in the Maryland suburbs of Washington DC. 

Roy Kelley
Roy Kelley & Associates
Associate Broker, RE/MAX Realty Group 

Client Assistance:  301-670-8996   

Recipient of the RE/MAX International Lifetime Achievement Award - 2008

 
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13 Comments on Longwood Gardens Flowers & How To Use FHA 203(k) 8/11/11

AUG
11
2011
933,969 Points 74 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

You do a very good job of promoting the FHA 203(k) program Roy.  Thanks for sharing your knowledge.
6:48am • #1
1,738,808 Points 20 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Roy,

The 203k program is a good tool for renovation but it requires refinancing and not an additional mortgage. :)

Steve
6:54am • #2
1,738,808 Points 20 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Roy,

Great flower shots like we've come to expect from you. Keep it up. :)

Steve
6:55am • #3
561,039 Points 10 Featured Posts Called Shot Master

Roy, today I am focusing on the positive, like the beauty of your photographs. May not listen to financial reports today and hope for a miracle! Then, tomorrow will come!! Enjoy the day.
7:04am • #4
1,241,121 Points 158 Featured Posts Outside Blog Called Shot Master

Good morning,  Roy. Today, I too choose to focus on the positive. Really nice photos. And yes, I will leave the radio and the tube turned off. Too much negativity...
7:08am • #5
1,440,059 Points 26 Featured Posts Outside Blog Called Shot Master

Good morning to all.  Today is a good day to turn our minds to flowers rather than the state of the financial markets.

The FHA 203(k) loan can be used to refinance and rehab the present home or to financing the purchase of home that needs repairs or renovation.  Many of our buyer clients use 203(k) financing when they purchase a lender owned foreclosure.

Brookside Gardens.  Photograph by Roy Kelley.
7:47am • #6
1,062,814 Points 12 Featured Posts Outside Blog

Roy, Good information on the HUD 203K program, and very beautiful flower pictures!
2:44pm • #7
610,837 Points 40 Featured Posts Outside Blog Called Shot Master

Roy, the 203K program is great for homes owners - whether purchasing or refinancing - it can provide just the cash needed for updating/upgrading/fixing the home.  Great post.
3:29pm • #8
1,440,059 Points 26 Featured Posts Outside Blog Called Shot Master

Thanks so much for your comments. I hope you are having a great week.

Life is better when there are flowers to photograph!
3:40pm • #9
492,232 Points 8 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Roy, Like how you combine financing and flowers in your post.  203K mortgages are getting more traction these days.  Thanks for the dose of flowers from Longwood!

Gloria
4:27pm • #10
253,751 Points 1 Featured Post Attended Rain Camp Called Shot Master

Roy, such helpful information for those that either don't understand what a 203k is and for those who have never heard of it.
5:02pm • #11
1,440,059 Points 26 Featured Posts Outside Blog Called Shot Master

Good to hear from you Gloria and Dawn.  I hope you are having an outstanding week.

Longwood Gardens.  Canon PowerShot G11 camera. Photograph by Roy Kelley.
5:06pm • #12
316,979 Points 4 Featured Posts Outside Blog Called Shot Master

Hi Roy,

What gorgeous flowers on your post and in your comments!  Very vibrant colors and beautiful blooms.  Great information as well on how to use the FHA program!
11:12pm • #13

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Roy Kelley, Montgomery County, MD Homes For Sale

Gaithersburg, MD

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Roy Kelley and RE/MAX Realty Group

Address: Roy Kelley, RE/MAX Realty Group, 6 Montgomery Village Avenue, Suite 200, Gaithersburg, MD, 20879

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Roy Kelley advises home buyers, sellers and REO asset managers, in the Maryland suburbs of Washington DC and nearby counties. REO and foreclosures sales. Market area includes Montgomery County, Frederick County, Washington County and Prince George's County. Real Estate blogs


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