Cracks in foundation ( fissures dans la fondation)
While out looking at properties for an investor client of mine, I noticed concerning cracks on the foundation of this house. Take a look for yourself. Foundation issues can be problematic. However, they can be fixed to avoid further damages and higher repairs in the future. For cracks less than 1/16 inch, the issue is… Continue Reading
Mold
Went out with a client of mine to look at potential investment property. We were informed of the mold. Well, we were in for a surprise. We elected not to venture into the house fully. We just stayed on part of the main floor. Take a look and see for yourself. Make sure to protect… Continue Reading
Chenoa fund
The Chenoa fund is administered by the CBC mortgage agency. It is designed to facilitate home-ownership by providing down payment assistance to qualified buyers. The assistance can be used for FHA and conventional loans as well. FHA Loans Chenoa Fund DPA Edge: Soft Second product: The borrowers need to have a score of 620 at… Continue Reading
REO: Real Estate Owned
An REO property, is a property that has gone through the foreclosure procedures and failed to sell at a foreclosure auction. After the Auction, the property goes back into the bank or institution’s portfolio. Once owned, by the bank, the property is then placed for sale, typically at a discounted price compared to non REO… Continue Reading
DOPA
DOPA: the District Opportunity to Purchase Act. It has been designed to promote Rental housing affordability in DC. DOPA helps with affordability by helping maintain the current number of affordable rental housing in DC as well as increase it. DOPA applies to properties of 5 rental units and more with at least 25% of the… Continue Reading
Rates improvement
Rates have been improving lately. lower rates can help lower monthly payments or Help qualify for a higher price point.
