Performance Property Real Estate Question

How To By A Run-Down Home w/a Mortgage

Q: I want to buy a home. Given where home prices are now, I figure I can get more value by buying a home that is in poor condition and needs work. Is there a way to buy a home like that with a mortgage? Steve, Essex Fells, NJ A: Rather than paying high interest rates for an interim loan with short repayment terms and perhaps a big looming balloon payment due on the horizon, HUD Section 203(k) allows homebuyers to buy a house that needs repair or upgrading. Consumer construction loans like 203(k) offer a solution that insures buyers a single, long term, fixed or adjustable rate loan that covers both the acquisition and rehabilitation of a home at […]

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Real Estate Insight

Affordable Housing in Federal Opportunity Zones

HUD Secretary said HUD will give preference for grants to developers & investors who build affordable housing in federal Opportunity Zones.

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