advice: In Light of the Economy... I'm going to Rehab- 203(k)
- 02/18/09 04:40 AM
Rehab??? That's right. I am looking into a program offered by the department of Housing and Urban Development (HUD), also known as the 203k mortgage. Here is a quick description of the program as posted on the HUD website: 203(k) Most mortgage financing plans provide only permanent financing. That is, the lender will not usually close the loan and release the mortgage proceeds unless the condition and value of the property provide adequate loan security. When rehabilitation is involved, this means that a lender typically requires the improvements to be finished before a long-term mortgage is made. When a homebuyer wants … (4 comments)
advice: How To Grow In This Type Of Market!!
- 02/03/09 09:40 AM
The million dollar question right? This market is truly a nasty storm that nobody saw or predicted was going to be of this magnitude. You hear a lot of seasoned agents saying they knew this was going to happen etc, etc, if that was the case then why did so many lenders close? Why did so many Realtors leave the industry? Did they want to go into forced retirement early? I doubt it. On a positive note, we must act like a successful business. What does a business do if there not making a profit? They change the way … (9 comments)
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