It is also known as the renovation loan. The 203(k) is a FHA (government) program that allows families to buy the home that they would normally pass up because it needs repairs or updating. The 203(k) allows new owners to remodel and roll those costs into their primary mortgage and pay if off over 30 years.
More information: http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/203k/203kabou
Posted in Mortgage Information
How do you know if a product is truly a green product?
http://www.signonsandiego.com/news/2011/jul/01/hedline-goes-here/
Hiring a professional could save you time, money and heartache.
Appraiser’s www.socalappraisalserv.com that are BPI certified can help you when going green.
Posted in Uncategorized
Now a new set of state regulations (California), which went into effect Monday, June 27, seek to combat the problem of under-insurance by imposing a uniform standard for the way insurance companies and brokers estimate so-called “replacement value” when a homeowner decides to buy or renew a home insurance policy. http://www.signonsandiego.com/news/2011/jun/27/Replacement-value/
Regulations require that “replacement value” have the same meaning as “replacement cost.”
Replacement costs – amount it would cost to repair, construct, rebuild or replace a damaged or destroyed structure.
The appraiser’s at www.socalappraisalserv.com can provide you with a cost analysis of your property that you can bring to your insurance company.
Check your state’s insurance laws to find out if replacement value has the same meaning as replacement cost.
Posted in Uncategorized
