203K Loan Horrors203K Loan Horrors
What No One Ever Tells YouWhat No One Ever Tells You
About a Fixer-Upper’s Best FriendA...
So You Found A Fixer Upper?So You Found A Fixer Upper?
 Perfect NeighborhoodPerfect Neighborhood
 Great YardGreat Yard
...
Here Comes Miss 203K !Here Comes Miss 203K !
 Your Lender says 203K is the perfectYour Lender says 203K is the perfect
lo...
Until You Find Out !Until You Find Out !
 If you don’t qualify for enough money,If you don’t qualify for enough money,
yo...
……Then You Find Out !Then You Find Out !
 That finding a licensed contractorThat finding a licensed contractor
within you...
……Then You Find Out !Then You Find Out !
 If your contractor quits before he’sIf your contractor quits before he’s
done y...
……Then You Find Out !Then You Find Out !
 If you get stuck between the loanIf you get stuck between the loan
originator a...
So Make Sure To Get All TheSo Make Sure To Get All The
FactsFacts
 Or Miss 203K will leave youOr Miss 203K will leave you...
203K Horrors203K Horrors
AA
Best InkBest Ink
ProductionProduction
20102010
203K Horrors203K Horrors
AA
Best InkBest Ink
ProductionProduction
20102010
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203 k loan horrors

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

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203 k loan horrors

  1. 1. 203K Loan Horrors203K Loan Horrors What No One Ever Tells YouWhat No One Ever Tells You About a Fixer-Upper’s Best FriendAbout a Fixer-Upper’s Best Friend
  2. 2. So You Found A Fixer Upper?So You Found A Fixer Upper?  Perfect NeighborhoodPerfect Neighborhood  Great YardGreat Yard  Has PotentialHas Potential  Garage that’s your hubby’s dreamGarage that’s your hubby’s dream  Just Needs A Little Work. NothingJust Needs A Little Work. Nothing that a hammer and nail can’t fix.that a hammer and nail can’t fix.
  3. 3. Here Comes Miss 203K !Here Comes Miss 203K !  Your Lender says 203K is the perfectYour Lender says 203K is the perfect loan for you.loan for you.  She’s smart, and kind, and can turn thatShe’s smart, and kind, and can turn that house you love into the home of yourhouse you love into the home of your dreams in no time.dreams in no time.  Hurray! You say.Hurray! You say.
  4. 4. Until You Find Out !Until You Find Out !  If you don’t qualify for enough money,If you don’t qualify for enough money, you may not get all the repair money youyou may not get all the repair money you need.need.
  5. 5. ……Then You Find Out !Then You Find Out !  That finding a licensed contractorThat finding a licensed contractor within your budget may be a challengewithin your budget may be a challenge and the timelines for the loan are rigid.and the timelines for the loan are rigid.
  6. 6. ……Then You Find Out !Then You Find Out !  If your contractor quits before he’sIf your contractor quits before he’s done you could end up not getting yourdone you could end up not getting your repair money at all!repair money at all!
  7. 7. ……Then You Find Out !Then You Find Out !  If you get stuck between the loanIf you get stuck between the loan originator and the bank who bought youroriginator and the bank who bought your loan they could bully you into thinkingloan they could bully you into thinking you have less than 6 months to clearyou have less than 6 months to clear things up!things up!
  8. 8. So Make Sure To Get All TheSo Make Sure To Get All The FactsFacts  Or Miss 203K will leave youOr Miss 203K will leave you HORRIFIED like I was.HORRIFIED like I was.
  9. 9. 203K Horrors203K Horrors AA Best InkBest Ink ProductionProduction 20102010
  10. 10. 203K Horrors203K Horrors AA Best InkBest Ink ProductionProduction 20102010

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