I viewed a hilarious Realtor blog video today that I had to share. The Realtor was fired by the seller because their home didn’t sell. The Realtor went on to say that he supplied the seller with a list of fixits. The seller didn’t do any of them and their home didn’t sell. He than [...]
Tag Archives: 203k loan
The 203k Streamline Needs a HUD Consultant.
October 1, 2010 – 11:42 pm
The 203k Streamline is gaining some steam and increased Realtor acceptance. However, with the increased popularity comes misconceptions. The 203k Streamline is meant for minor cosmetic work and has a cap of $35,000 in repairs, a hombuyer and contractor is all that’s needed……or is it? Any repair amount greater than $35,000 is still possible, but [...]
Home equity loan meltdown is the rebirth of the 203k loan.
September 13, 2010 – 10:11 pm
Click here for more Salvtore Vuono pics I was reading an article the other day that said that there are 347 billion dollars in home equity loans in the U.S. that are underwater. That number again is in the billions not the millions. Four years ago if you didn’t use a California real estate loan package that [...]
The 203k home loan, Streamline style
August 26, 2010 – 5:38 am
There are two different 203k home loans. The FHA 203k Standard loan, and then there’s the FHA 203k Streamline home loan. The 203k Streamline loan is for smaller jobs and cosmetic in nature. A homebuyer can receive up to $35,000 in funds with the 203k Streamline home loan to put in carpet, paint, countertops, cabinets, [...]
Contractors Need to be Coached on the 203k Loan
July 28, 2010 – 4:25 pm
I had heard recently from a Realtor that they would never again be involved with a 203k Streamline or the 203k loan (standard). When I asked why she mentioned that it took too long to get job estimates from the contractor and escrow had to be extended 2 times as a result. This can happen if the [...]
The 203k Loan. Give it a Second Look.
July 21, 2010 – 1:14 am
The 203k loan has been around for well over 25 years and the 203k Streamline loan was revamped in 2005 to make it more consumer and Realtor friendly. I say Realtor friendly because the acceptance of either the standard 203k loan or the 203k streamline loan is lukewarm at best in the Realtor community. I’ve [...]
