Unused contingency funds, unless they were received directly from the borrower, must be used to reduce the outstanding balance of the renovation mortgage after all of the renovation work has been completed and the certification of completion has been obtained.The loan is not re-amortized.Draw Schedule:The HomeStyle program has a maximum 4 draw process.The initial draw can be up to 50% of the total project and can be for materials for the project.The final draw will be at least 10% of the total project as retainage and funds will be released upon receipt and approval of final inspection, Certificate of Completion from Appraiser, signed All Bills Paid Affidavits and Lien Waivers.Additional Draw Information:Ø Signed Draw Request by borrower and contractorØ Signed All Bills Paid AffidavitØ GMG review and approve the draw request and will release funds for disbursementØ A check will be issued in the name of the borrower and contractor and delivered to borrower via USPSØ An inspection of work to date will be performed at 50% completeFinal Draw Information:Ø Signed Draw RequestØ Final inspection/Completion Certificate will be required for release of final fundsØ A Title Update showing property free from lien or encumbranceØ General Contractor’s Lien Waiver AffidavitØ Affidavit of Completion GR will review and approve the draw request and will release a check in the name of the borrower and contractor.Change Orders and Cost Overruns:Changes to the initial plan are not permitted unless prior approval by Guaranteed Rate.

Investors chasing yield in secondary and tertiary markets are a sign of high prices.You have so many problems in the Northeast.

Interesting to hear there are anti-RK folks out there, but then again, aren't all public figures subject to scrutiny....I just signed up to download your book -- great looking website and nice logo.Here's a question fitting for the newbie forum: what's the one piece of advice you wish you could go back and tell yourself before your first purchase?

I like to have a complete financial package assembled and ready to submit to the lender we select as soon as a PSA is signed for the replacement property. 

If you do use a roku/firestick/smart TV, is there a quick way to log out when doing turnover without resetting everything (and losing WiFi connection) or having to manually look into each streaming platform (Netflix, Hulu, Disney,etc) and signing out?

Hi all, I recently began considering creating small listing pages that can be accessed by scanning the QR code on the sign outside of inventory.

When I signed up via my pro membership, I was charged $1 to set up the account with RentRedi.

So - when you signed up, did you choose the $19,95 monthly option and then they correct it on the back end?  

So, is this a sign of fewer people coming to Hilton Head or a broader reflection of the economy?

Initially signed up for property management for few months before I'm mentally prepared to start self-managing.