Nov. 17, 2015

REO - Real Estate Owned Properties (aka Foreclosed homes)


REO stands for Real Estate Owned and refers to properties that have been foreclosed on, and currently for sale by the bank. They can generally be a good value, since they may be somewhat in disrepair. Sometimes this means they just need cosmetic work, sometimes they need more work ...

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Posted in FHA, Mortgage
Oct. 28, 2015

How the bank paid for our renovation : FHA 203K Rehab loan


I admit that the title is a little misleading! *wink* The cost of the renovation was actually rolled into our mortgage, so we did in fact pay for it ourselves. Despite being a real estate buff since I was very little, I was not aware that these types of loans ...

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Posted in FHA, Mortgage, Renovation