203k: Is the 203K still a good option?
- 02/07/12 06:57 AM
With so many distressed and vacant homes on the Atlanta market one would think that the FHA 203K is a great solution for buyers who need (or simply want) special financing that includes fixer upper funding. Agents may use it as a tool to place buyers in affordable homes and contractors see it as an opportunity for business in a slow economy. Sounds like a win-win, doesn't it? Unless you speak to trade professionals who have been involved in the program. Once again, red tape and government micro-management may be creating more problems than it solves. According to one Marietta contractor, … (0 comments)
Author Bio: Tracy Coles has a strong background in New Construction Management, Model Home Merchandising and Home Staging. She is THE North Metro Atlanta Luxury Home Specialist.
With so many distressed and vacant homes on the Atlanta market one would think that the FHA 203K is a great solution for buyers who need (or simply want) special financing that includes fixer upper funding. Agents may use it as a tool to place buyers in affordable homes and contractors see it as an opportunity for business in a slow economy. Sounds like a win-win, doesn't it? Unless you speak to trade professionals who have been involved in the program. Once again, red tape and government micro-management may be creating more problems than it solves. According to one Marietta contractor, … (0 comments)
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