hud fha consultant madison ms: What are Minimum Property Standards (MPS)?
- 05/17/14 01:22 AM
What are Minimum Property Standards (MPS)?
In a nut shell these are typically health and safety issues. These are considered minimum property standards for anyone living in a home in the USA.
These can be simple things like broken windows, obvious trip hazards, holes in the floor, and more complex things like obvious dry rot, rodent damage, support posts that are failing, and foundation issues.
If you can see dry rot then order a termite or "structural pest report" as the appraiser is obligated to call for one if they see it for a 203b or a 203k loan. The way … (0 comments)
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What are Minimum Property Standards (MPS)?
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