west oakland: Draw or payment for work completed in Oakland CA
- 08/06/12 01:04 PM
I once had a contractor call me the day after the loan closed escrow to get a draw for the roof structure. Well, when I had made the initial inspection this home had been fire damaged and the roof was some rafters and sky. So I asked the contractor, have you really got that roof on. He assured me that he did and I instructed him "if you don't have the work done you WILL NOT GET PAID... do you understand. He answered "yes" and we made the appointment to complete the draw. As you probably guessed the work hadn't yet been started. … (2 comments)
west oakland: 203k is alive and well from Berkeley to Charlotte
- 04/03/11 06:06 AM
Yesterday I was invited to join Allen Moore of Mason McDuffie Mortgage in Berkeley for a tour of fixers. We met at one and for the second time in my life I saw a home that is not a likely candadate for the FHA 203k program. It was a very small duplex so right away it needs to be larger for FHA financing. The thing that caught my eye was the 3 x 3 studs on 48" centers and only 3/4" plywood where one side was the inside wall and the other side was the outside wall. This was likely WWII … (3 comments)
I once had a contractor call me the day after the loan closed escrow to get a draw for the roof structure. Well, when I had made the initial inspection this home had been fire damaged and the roof was some rafters and sky. So I asked the contractor, have you really got that roof on. He assured me that he did and I instructed him "if you don't have the work done you WILL NOT GET PAID... do you understand. He answered "yes" and we made the appointment to complete the draw. 
;)
;)
;)
