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203 k loan horrors

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What everyone should know about the sweetheart of home improvement loans.

What everyone should know about the sweetheart of home improvement loans.

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  • 1. 203K Loan Horrors What No One Ever Tells You About a Fixer-Upper’s Best Friend
  • 2. So You Found A Fixer Upper?
    • Perfect Neighborhood
    • Great Yard
    • Has Potential
    • Garage that’s your hubby’s dream
    • Just Needs A Little Work. Nothing that a hammer and nail can’t fix.
  • 3. Here Comes Miss 203K !
    • Your Lender says 203K is the perfect loan for you.
    • She’s smart, and kind, and can turn that house you love into the home of your dreams in no time.
    • Hurray! You say.
  • 4. Until You Find Out !
    • If you don’t qualify for enough money, you may not get all the repair money you need.
  • 5. … Then You Find Out !
    • That finding a licensed contractor within your budget may be a challenge and the timelines for the loan are rigid.
  • 6. … Then You Find Out !
    • If your contractor quits before he’s done you could end up not getting your repair money at all!
  • 7. … Then You Find Out !
    • If you get stuck between the loan originator and the bank who bought your loan they could bully you into thinking you have less than 6 months to clear things up!
  • 8. So Make Sure To Get All The Facts
    • Or Miss 203K will leave you HORRIFIED like I was.
  • 9. 203K Horrors
    • A
    • Best Ink
    • Production
    • 2010