203k Software January Newsletter

January 2015

203k IN THE NEWS

FHA Appraisals and How They Can Affect Your Work Write Up

Like the 203k Consultant, the FHA Appraiser has the obligation and duty to call out any and all “Health and Safety” issues they discover during their investigation of the subject property. In the event you have already completed your Specification of Repairs (“SOR”), and the appraiser discovers any health and safety issues you failed to disclose on your SOR, you will be obligated to amend your SOR to include these items.
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203k Loan Appraisal & Property Requirements

Rehabilitation Mortgageser 1
General D HOC Reference Guide
203k Rehabilitation Mortgages
Chapter 1
Appraisal & Property Requirements
Page 1-10

General
The Section 203(k) program is the Department’s primary program of General or the rehabilitation and repair of single-family properties. The Section 203(k) program is the Department’s primary proforma for the rehabilitation and repair of single-family properties. The program allows the borrower to get just one mortgage loan, at a long-term fixed or adjustable rate, to finance or refinance both the acquisition and the rehabilitation. Please see: HUD Handbook 4240.4 rev-2 and 4150.2 Appendix B-Please see: HUD Handbook 4240.4 and 4150.2 Appendix B-1 for additional information. See Mortgagee Letter 2005-50 for information on the Streamline 203(k) process. The 203(k) loan program may only be used condominium units located within structures (buildings) containing no more than 4 units. The repairs involving a condominium unit are limited to the interior space of the unit. (Cooperatives are not eligible for 203(k) mortgage insurance). Also see: HUD Form 92700 203(k) Maximum Mortgage Worksheet (2/06).
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203k Software now using secure connection

You may have noticed that the website now shows “http://” before “www.easy203kpro.com”.

Starting Sept 25 the entire www.easy203kpro.com site is using a Secure Socket Connection (SSL) when users connect from their computers. This type of connection ensures that no information sent back and forth can be intercepted. All logins and project information is safe.

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203k Consultants

HomeBuyers and Real Estate Professionals

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Online HUD consultant software going live Oct 1st 2013

We are going live Oct 1st.
Easy 203K Professional is now available to HUD Consultants! Sign up for 30 days FREE. We are welcoming HUD Consultants from anywhere in the United States. You can use the site to create as many 203(k) projects as you like at no charge for 30 days, then if you like it, choose from our current pricing plans and keep using it.

We are adding features all the time, thanks for taking a look!

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203k Consultants

HomeBuyers and Real Estate Professionals

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