Mike's 203k Blog
203k loans, the hottest renovation loan product on the market. Offering quick closings on homes that require repairs.
ARCHIVED BLOG POSTS
2013
2
Comments
203k loans in Alameda County Alameda Albany Berkeley Dublin Emeryville Fremont Hayward Livermore Newark Oakland Piedmont Pleasanton San Leandro Union City These are links back to each city official website. We have a 203k in nearly all of these cities of Alameda County and we would like to work o...
06/20/2013
Bidding on HUD homes can be like stepping into a Bear trap? HUD homes are aka HUD foreclosures and are sold by M&M contractors. If you are looking to purchase a "HUD Home" your agent will put a bid together with you to called a purchase agreement. The home has been appraised and a value set. Do y...
06/19/2013
What is the difference between a Standard 203k & a Streamlined k? I've just been reading a number of blog posts that all says something about this quesiton and they all seem to have different opinions... lets get it straight and clear the air Streamlined k ... is for NON-STRUCTURAL issues and a l...
06/19/2013
Brent wrote this article and I think he is right on the target as to why it is difficult to get some contractors on board with the program. The sad part is that it is not much different than what they do everyday. I had a client call me yesterday to see if they could get the names of some reliabl...
06/16/2013
I'm a contractor, can I work on my own 203k project? My first question would be what kind of contractor are you? Then, is that the kind of contractor that's needed on this project? If your project requires a general contractor, and you are a general contractor, then you likely can do your own wor...
06/16/2013
What about mold issues, can we clean that up with a 203k? Yes, mold, asbestos, pet stains, and anything like that can be part of the FHA 203k repairs. We do mold testing so we see our share of mold. I once had a job at the "Cat Lady's House" what a smell. One of the most difficult smells to reall...
06/15/2013
Can you recommend a contractor for my 203k project? Lender's answer "nope" or "no can do" but as a 203k consultant we can recommend contractors and what is more important in my mind is that we also can put contractors who are inadequate for the program on a "do not use list" that lenders tend to ...
06/15/2013
Can I replace a failed septic system with the 203k loan program? Yes, but it must be a FULL or STANDARD 203k. This work would be considered "structural" and therefore should not be attempted with a streamlined k loan. Now that I have said that there is a major lender that says they have done hund...
06/15/2013
0
Comments
FHA 203k and mold issues in Sonoma Mold can become an issue anywhere but this particular issue came up in Sonoma. there is rarely an issue that can't be repaired. Though I have seen three homes in my career that were burned in place due to mold issues. This home was being shown with the mold remo...
06/13/2013
2
Comments
Safety is always a concernA few years ago when I was is appraising real estate. I was driving slow and as I turned the corner looking for an address I came head-to-head with the young man and his child on a two will bicycle with training wheels, and I stop just in time.He was shaking. He was ne...
06/11/2013
Rainmaker
666,679
666,679
Mike Young
FHA 203k Consultant 916-758-1809