Solving the Housing Crisis, "One House and One Neighborhood at a Time!"

Real Estate Agent with Hunterdon County Homes


Here is some interesting information on the HUD 203K loan program -- it's designed so that it allow buyers to purchase or refinance a property plus include in the loan the cost of making needed repairs and / or improvements.

Patty Mortara | Hunterdon Real Estate Group | Flemington NJ |



Original content by Allen Henderson

Solving the Housing Crisis, "One House and One Neighborhood at a Time!"

The Housing Crisis:

Houses! Houses! Houses! Who would have dreamed there would be so many abandoned, foreclosed, unsaleable houses on the market. The housing crisis is a catastrophe of the highest order for individuals, families, neighborhoods, communities, cities, states and our entire country.

Investors with the deep pockets required to buy and rehab these distressed properties have lead the way to what little recovery we have seen. We wouldn't be enjoying the little recovery that has occured if it wasn't for these entrepreneurs. The fact remains that there aren't enough investors to rehab all of the houses and we can't clone investors. The solution would be easier if we could.

The Problem:

The little guy who needs and wants a home for his family hasn't been able to participate because it takes money to buy and then rehab a property. Conventional loan programs, including government guaranteed programs, could get him into the house but didn't provide money to rehab a property. The HUD Funds for Handyman-Specials and Fixer-Uppers web page explains this as a catch 22. "The purchase of a house that needs repair is often a catch-22 situation, because the bank won't lend the money to buy the house until the repairs are complete, and the repairs can't be done until the house has been purchased." The consequence has been that families wanting to buy a home and willing to fix it up, are excluded from participating in the American dream of home ownership. As a result, distressed properties languish, bringing down the value of properties around them resulting in the blight of whole neighborhoods.

The Solution:

Finally, and to their credit, HUD has come up with a solution that can really help. The HUD 203K loan program was designed to, as in their words, "help you with this quagmire and allow you to purchase or refinance a property plus include in the loan the cost of making the repairs and improvements." The little guy can again participate in the American dream and has the opportunity to play an integral role in helpng to solve the housing crisis.

In a Nutshell:

A buyer with reasonable credit can buy a distressed property and get a loan that includes up to $35,000. to make  repairs. "The down payment requirement for an owner-occupant (or a nonprofit organization or government agency) is approximately 3.5% of the acquisition and repair costs of the property." The list of allowed repairs has very few restrictions. For example, the repair money can even be used to move a house to another location.

HUD has finally created a product that will strike at the heart of the housing crisis!

Does this sound too good to be true? Click here to go to the HUD 203K homepage then call or e-mail us.

     1.We'll put you in touch with a lender who will get you pre-qualified for a 203K loan guarantee.

     2. We'll give you a list of all of the homes that meet your criteria in the area you want to live.

We want to get you on the road to home ownership and help you find the home of your dreams. It is out there and it is waiting for you to contact us.

Help us help you solve the housing crisis!

Contact Us Now! Don't Delay!

Call 480-219-8266, e-mail:

If you are outside our marketing area, please contact us and we will connect you with a qualified lender and competent real estate agent in your area. This is a national problem and it is our goal to help solve the national probem as well as our local problem. We are looking forward to hearing from you.


Allen Henderson: Doing My Small Part to Solve the Housing Crisis "One House and One Neighborhood at a Time."




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