The Federal Housing Administration (FHA) is making changes to its 203(k) rehab mortgage program in response to the aftermath of recent hurricanes. The program will see relaxed provisions to facilitate homeowners impacted by the natural disasters.
Key elements of the FHA’s updated 203(k) program include:
– Easier access to funds for home repairs and improvements
– Flexibility in loan requirements for borrowers in hurricane-affected areas
– Streamlined processes for homeowners seeking to rebuild or renovate their properties
These changes aim to provide much-needed relief to homeowners facing substantial damage from the hurricanes and help them quickly restore their properties to livable conditions. The FHA’s decision underscores the government’s commitment to supporting communities in their recovery efforts following natural disasters.
You can read this full article at: https://www.housingwire.com/articles/fha-helene-milton-temporary-waivers-rehab-mortgage-program/(subscription required)
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