The Chicago 77

19 August 2009 ? The Federal Housing Administration?s 203(K) loan is gaining popularity as more and more distressed homes are entering the marketplace due to foreclosures and short-sales. According to data released last week by the Office of the Comptroller of the Currency, more than 11,000 loans have been insured thus far this year: a […]

There are two types of 203k loans: regular 203k, and a streamline 203k. A streamline 203k has a maximum of $35,000 in repairs, and is much, much easier to get done. If you must have over $35,000 in repairs and upgrades, it can get done, but those are much more tedious and time consuming.

The Dow has dropped a bit, down to below 8400 Wednesday morning, as retail sales have been slumping. On the plus side, mortgage rates are down a little Tuesday and Wednesday. Secretary Geithner says the financial system is starting to heal, but we obviously have a way to go. Did you know? Did you know […]