Commercial Real Estate Investing
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 12 years ago,
Question about a short sale, 203k loan and what a RE agent told .
Good morning all. Me and my wife and currently looking for homes In the ny/longisland area. We have seen some that are short sale and wanted to bid on one. Being that it's a short sale there was really no kitchen we need all the appliances and some rooms need some touch ups. Now I researched rehab mortgages. I looked up and found that u can get a 203k mortagage to fix up and rehab a home and live in it or sell it. So I asked my agent yesterday and they called their mortage person and I was told I couldn't do 203k loans on short sales. I did a lot of research and I see that u can so why are they telling me I can do that? Any information would be great thank you.