Sometimes the borrower can be his own worst enemy
By Mike Young, FHA 203k Consultant 916-758-1809
(203kOnLine.com, covering the USA)
Sometimes the borrower can be his own worst enemyThat is right. I have a project going on right now. The borrower continued to get in the way, remove drywall on his own that wasn't in the scope of work. Remove the kitchen cabinets that wasn't in the scope. Both of these things became issues when the inspector came by and wasn't pleased. In fact it uncovered some sub standard framing in this old house that caused the inspector to want all of the drywall removed. If you want this kind of stuff completed, include it in your scope, yes, it will make the loan amount larger and more realistic budget with a larger contingency reserve to handle it. With the smaller budget comes a small amount of money in case you have issues. Catch 22 maybe but no one is going to keep this FHA 203k loan any lo...