HUD Extends Disaster Foreclosure Moratorium

203k consultant software

On October 20 2017 the Federal Housing Administration (FHA) published Mortgagee Letter 2017-15, Extension of Initial Disaster Foreclosure Moratorium for Properties in Specified Areas Impacted by Hurricanes Harvey, Irma, and Maria. This Mortgagee Letter (ML) communicates specific guidance for the extension of the foreclosure moratorium for FHA-insured properties in the U.S. Department of Homeland Security’s Federal Emergency Management Agency (FEMA)-designated Individual Assistance Areas that are located within the Presidentially-Declared Major Disaster Areas for Hurricanes Harvey, Irma, and Maria. The extension of these three initial moratoriums applies to the initiation of foreclosures and foreclosures already in process.

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203k Software for Consultants Will Help You Work Smart

What We Offer

Easy 203K Professional is not a downloadable software that will take up critical space on your computer. Rather our service is an entirely internet-based management tool that can be accessed from any computer or device with an internet connection. Easy 203K Professional can help you with many HUD project related tasks.

-Create repair and restoration check lists
-Store values for upcoming projects
-Print forms needed by lenders, contractors and buyers
-Generate reports at the jobsite
-Hassle-free updates
-Nightly backups of all your data
-Great support
These are just a few of the features that this service has to offer.
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203k Application Information

It has come to our attention that some lenders want to use their Lien
Release forms.

If you have worked with lenders requiring the use of their forms, please
send us copies of their forms and we will add them to our system.

Thank you,

Easy 203k Professional Support Team

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203k Consultants

HomeBuyers and Real Estate Professionals

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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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