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"Youth is when you're allowed to stay up late on New Year's Eve. Middle age is when you're forced to."

Bill Vaughn








 




 
Featured Loans Articles

A Guide to Cheap Loans Online
Looking for cheap loans online can sometimes be a taxing process. between not knowing exactly where to look and wondering what's required in order to get cheap loans online, you might find yourself wondering if you're not better off taking a higher ...

Title Loans Backed by your Vehicle is a Good Instant Loan Option
Title loan is very famous among the residents of the UK as a loan for a short term. Add to this the instantaneous approval that borrowers can have, and title loans form the best available option. A title loan is a secured loan with the title to the ...

Unsecured Debt Consolidation Loans - Debt Reduction Without Using Collateral
Eliminating debt is not an easy task. For this reason, many people carry high credit card balances for several years. Homeowners may take advantage of home equity loans or refinancing to reduce debts. In addition, persons with a vehicle title or ...




203(k) Loans Can Be Beneficial
 
203(k) loans can be very beneficial. Learn how to use only one loan to both finance and repair real estate.
It doesn't matter if you are new to the real estate investing business or have been a real estate investor for years, one thing that you will eventually encounter is the need for capital to either buy property that needs repairing or repair property that you already own. The problem is that most lenders do not want to finance borrowers for the purpose of buying or repairing property that are fixer uppers or handyman specials. This is because lenders often see this type of property as an unstable investment. Even if a borrower does find a lender that will finance them for property that is in need of heavy repairs, the loan amount will be based on a percentage of the current value of the property. Unfortunately, this amount is usually not enough to do all of the repairs or work that is needed.
A simple solution to this problem is the FHA 203(k) loan. The FHA 203(k) is a loan that is secured by the Federal Housing Administration that is used by borrowers for the purpose of fixing up or rehabbing real estate. Some of the advantages of a FHA 203(k) loan are:
1) borrow up to 110% of the after completion value of the property
2) take out one loan to cover a property's purchase price and cost of rehab
3) refinance existing housing
4) finance 100% of the cost needed to improve the property
5) and much more.
To learn more about the FHA 203(k) loan (such as loan limitations, property qualifications, etc.) contact your local FHA approved lender or visit the HUD website at http://www.hud.gov/offices/hsg/sfh/203k/sfh203kc.cfm.
About the Author
Daniel Cobb lives in Chicago, Illinois and is a former realtor who is now a real estate investor. He is also author of the e-book, "Complete Guide To Investing In Real Estate Through Government Scavenger Sales" - an informative e-book on how to purchase real estate through government auctions.




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Wall Street Journal Blogs

SBA disaster loans to assist NC firms The Business Journal of the ...
Bizjournals.com, NC - 4 hours ago
The Small Business Administration says federal loans are available to small NC businesses that suffered financial losses from the drought and high ...
Restoring the flow of credit to entrepreneurs Los Angeles Times
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Two Investors Sue Countrywide Over Loan-Modificiation Plans
CNNMoney.com - 1 hour ago
s (BAC) Countrywide Financial Corp. on Monday over plans to make up to $8.4 billion in loan modifications as part of a settlement with 15 state attorneys ...
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Straits Times

Government plans new credit, mortgage programs
O Jornal, MA - 5 hours ago
The Fed program for consumer debt will lend up to $200 billion to the holders of securities backed by various types of consumer loans such as credit cards, ...
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New York Times

Turning Around the Idea of Student Loans
New York Times, United States - 16 hours ago
“This is a five-year loan, and that helps ensure a certain amount of longevity for this project.” Justin said he first became interested in poverty issues ...

The Star-Ledger - NJ.com

General Growth gets 2-week reprieve on loans
Chicago Tribune, United States - 7 hours ago
The real estate investment trust said it and the syndicate of lenders "are continuing their discussions" on a longer-term extension to the loan, ...
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Commercial loan "nightmare" projected for 2009-JPMorgan
Reuters - 4 hours ago
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US interbank lending rates continue to rise
International Herald Tribune, France - 6 hours ago
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Australian Funding Costs Decline on China Rate Cut, EU Plan Bloomberg
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Cost of personal loans soars in two months Telegraph.co.uk
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PPR - $.0340 November Dividend
MarketWatch - 1 hour ago
ING Prime Rate Trust was the first Fund to invest in a portfolio of floating rate senior bank loans. The Trust seeks to provide as high a level of current ...

Some Atlantic City casinos struggle to pay loans
BusinessWeek - 26 minutes ago
Trump Entertainment Resorts became the second casino operator here to say it would not make a scheduled loan payment while it tries to work out new terms ...

Ottawa Citizen

The Fed boosted emergency loans to banks and firms
The Associated Press - Nov 28, 2008
The report also said investment firms borrowed an average of $52.4 billion from the Fed's emergency loan program over the week ending Wednesday, ...
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