Comments for 203k Home Loan Rehab.com

Comment on Contractors Need to be Coached on the 203k Loan by Mervin berrtrand

Mervin berrtrand — Fri, 20 Jan 2012 04:01:28 +0000

I am a licensed contractor in Maryland and the District and we provide FREE estimates for 203k loans within 24hours. http://www.homecplus.com

Comment on 203k Loan Advice, Get A Contractor Bid Before You Write An Offer by Kevin Walton

Kevin Walton — Thu, 19 Jan 2012 19:32:45 +0000

Very well put Cliff. The HUD Consultant can do a feasibility test as well to help the homeowner especially on the 203k Streamline where the home owner is on their own working with the contractor. Getting a contractor who has some sort of certification on the 203k loan will also help being that the contractor is educated on the 203k loan process and it’s nuances.

Comment on Structuring An Offer With A 203k Loan by Kevin Walton

Kevin Walton — Thu, 19 Jan 2012 19:30:13 +0000

Thanks Alexis. You are right, there is some negative press out there on the 203k loan . But if it’s put together property upfront with the right people, the process is much smoother.

Comment on 203k Loan Advice, Get A Contractor Bid Before You Write An Offer by Ms. Robinson

Ms. Robinson — Sun, 15 Jan 2012 10:37:16 +0000

I have been notified by the draw dept. that I will received my first half of the draw in a few days, BUT my contractor and I have decided to part ways. Help!!!!!!!!!! Can anyone give me heads up about what I’m facing? Will I lose my 203k Streamline funding?

Comment on Structuring An Offer With A 203k Loan by Alexis@UniqueLightFixture

Alexis@UniqueLightFixture — Fri, 06 Jan 2012 16:50:48 +0000

Having a 203K loan is really hard to pass, because of its amount and with past experiences shared by people who tried it, there is that mentality that it will never work which is a barrier actually. But I like the tips offered in order to pass this loan and I hope everyone gets to see this.

Comment on 203k Loan Advice, Get A Contractor Bid Before You Write An Offer by Cliff

Cliff — Wed, 04 Jan 2012 14:22:00 +0000

I agree with Kevin however get a HUD/FHA Consultant to develop the mandatory work scope and provide a budget for each line item. Most contractors and owners tend to overlook and/or underestimate the the scope required by underwriters. Local code thresholds also kick in so proceed only with the guidance of BOTH a HUD 203K consultant and a good general contractor.

Comment on The Investor 203k. It May Be Coming Back in 2011. by Kevin Walton

Kevin Walton — Wed, 04 Jan 2012 01:21:27 +0000

Karyn, you can bet that investors will put their own overlays (additional rules) on the investor 203k loan if it comes to fruition. We still don’t know yet if it’s making a comeback.

Comment on The Investor 203k. It May Be Coming Back in 2011. by Sandy

Sandy — Wed, 28 Dec 2011 14:42:55 +0000

ill this vary for investors change the 203K loans for consumers? Do you think so?

Comment on 203k Loans Do It Yourself Fix-Its Not Always Allowed by 203K Loan

203K Loan — Mon, 12 Dec 2011 01:26:44 +0000

Self-help is NEVER allowed if you call me. Underwriting nightmare, not a good idea for several reasons.

First, we prefer you out working your job and making money to make your mortgage payment rather than working on your house.

Second, if you screw up the work then we have no recourse.

Third, nights and weekends won’t cut it. We want your house finished and you living in it ASAP

Comment on Realtors And The 203k Loan. Why Do They Dislike It? by 203K Loan

203K Loan — Mon, 12 Dec 2011 01:23:50 +0000

This may seem harsh, but 90% of RE agents are idiots who are more concerned with getting their commission quicker than the welfare of their clients.

Did you know the average agent closes about 8 transactions a year. Their average annual income is less than 35K.

That says it all.