Scott Harris's (scottpolo) Blog

I know realtors who are busy selling REO's.  The HUD 203K loan program isn't just the best way, it's the only game in town most of the time.  It includes funds for renovation and repair.  Most REO's are "distressed" and the only way to finance them is if the buyer pays for repairs.  The 203K get'...

I'm still busy doing 203K renovation mortgage inspections.  But I'm not busy enough.  Some agents just don't get it.  This is easy.  It's not extra work for the agent, it can easily close in 45 days, and... IT'S THE ONLY WAY TO CLOSE ON MOST OF THE REO'S (most of them "distressed") OUT THERE.  

The best tool to sell REO's and other distressed property is the HUD 203K mortgage. The 203K program provides funds for renovation as part of the mortgage.  It allows the home to be appraised at it's improved value.  It is available to borrowers who qualify under FHA/HUD guidelines (much lower th...

I am a full time home inspector and HUD 203K consultant.  I'm the only HUD 203K consultant and inspector in the Pacific Northwest. buisness for me is OK & I'm doing some 203K's but I just can't believe I'M NOT SWAMPED. The 203K seems to be the best thing in the world to sell all the houses out th...