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02907 : Real Estate Advice

  • All3
  • Local Info0
  • Home Buying1
  • Home Selling1
  • Market Conditions0

Activity 3
Tue Jul 26, 2016
Joe Borelli answered:
In order to underwrite a 203k renovation loan in Rhode Island, the lender must be approved by the FHA. As there are extensive lending requirements that need to be fulfilled both during and after the loan approval, it is advisable that you work with a FHA 203K lender directly. The complete list of approved 203K lenders in Rhose Island can be accessed below.
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Wed Mar 21, 2012
Don Tepper answered:
Bill's corrrect. The investor can sell it to whomever he wishes.

However, the investor might be reluctant to do so out of concern that the bank might believe (incorrectly, as you describe it) that there was some collusion between you, your dad, and the investor. The investor might be safer selling to someone else. But that's the investor's call. If he's willing to sell to your dad, it's certainly doable.

Hope that helps.
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1 vote 3 answers Share Flag
Sat Nov 28, 2009
Bob Sparn answered:
Let me know where it is located and I will have a cash offer for you in 24 hours.
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