As the housing market gets ready for a likely flood of foreclosures going up for sale, it's time to brush up on a government-backed loan program called the FHA 203k. Some folks looking at the home mortgage loan industry say distressed inventory is about to step out of the shadows.
Current Market Conditions
Some figures show about 35% of the home inventory right now (that's homes listed for sale) are short sales, foreclosures and bank owned. This means a lot of homes are not getting regular maintenance, or are in disrepair. That's where the FHA 203k loan comes into play. Let's hear from Joe Daly, an expert on the 203k.
We have several folks here at AmeriFirst with expertise on the 203k loan program. Let us know how we can help.