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Updated 8 months ago, 04/24/2024
What loan options do I have to rehab building violations?
Hello BP family,
I recently purchased a home with an FHA 203K loan. Rehab portion of the loan was to repair some interior work worth up to $65k. unfortunately 1 month after closing, I had one of the tenants that was getting evicted complain to the city and I ended up getting a bunch of building violations.
These violations are to fix porch, roof, and masonry work. bids that have received are totaling up to $150k.
I'm looking to see what options are recommended to finance that additional rehab work needed to clear violations.