Friday - Long day scheduled today starting off at 8 am in Carmichael with a full 203k consultation on a rather large property. This one I understand is an older home being renovated and doubled in size at the same time, of course. The FHA 203k is perfect to make room additions and clean up the old. - this turned out to be a wonderful project, very knowledgeable borrower regarding the construction, well prepared. We found some asbestos wrapped ductwork.. not allot but it is always a concern to borrowers.
Then we have a possible second one in Sacto, still up in the air... then another in Vallejo this afternoon, Wow, busy day.
The home in Vallejo is being purchased by a young man who is pretty sharp, He has an excellent purchase price and a home with drainage issues that can easily be fixed with the FHA 203k loan program. We will be installing a French Drain to solve that situation, he wants new floor coverings, fresh interior paint, and some kitchen upgrades that include granite counter-tops, very popular right now. This is my day for asbestos wrapped duct-work, found it here too.
When I was a lad my father had a sheet metal and air conditioning shop and I used to wrap asbestos paper around the fittings after dipping it in wheat paste to make it stick to the tin fittings in those days. Now they used galvanized sheet metal. The asbestos didn't cause in lasting problems with me and as long as it is left on the duct-work it shouldn't be an issue with anyone.
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