RISMEDIA, June 8, 2010—Dennis Walsh, CEO of RE-buildUSA, will be facilitating a panel session entitled: “Amazing Opportunities for Buyers and Sellers – Understanding the FHA 203k Renovation Loan Program” at the RISMedia Leadership Conference to be held at the Rye Town Hilton New York June 9 and 10.
This panel will feature David Kratt, 203k/Foreclosure Marketing, Lowe’s; Dan Steward, President, Pillar To Post; and Ed Krafchow, President & CEO, Prudential CA/NV Realty. Panelists will provide valuable insight on the excellent opportunities available in today’s market through the use of the FHA 203k Renovation Loan Program
The FHA 203k is a unique mortgage loan that offers all the benefits of FHA financing along with the ability to provide funds for both the purchase and the renovation of a home. After several years of recessionary times, real estate, mortgage and construction professionals are seeking new ideas and opportunities. An abundance of foreclosed homes offer great buying opportunities for millions of Americans. Additionally, more than 100 million homes in the US were built before 1990- an abundance of homes that would benefit from renovation and modernization.
“Homes needing renovation are typically the very best buys available; however, most prospective buyers have no idea how to finance both the purchase of the home and the renovation work required,” says Dennis Walsh, CEO of RE-buildUSA. “The FHA 203k offers an excellent solution, but has previously been difficult to implement.”
“Due to the dramatic changes in the banking world, conventional financing is unavailable to millions of potential buyers,” explains Ed Krafchow, President and CEO, Prudential CA and NV. “In spite of excellent buys available, most cannot meet strict down-payment, income and credit requirements. Further, adding a second mortgage to finance repairs or remodeling is simply out of reach for almost all homeowners in today’s climate.”
To meet this need, FHA guaranteed mortgages offer competitive alternatives to conventional financing, featuring lower down payments and less restrictive credit requirements. As a result, the use of FHA financing has grown tremendously. However, many excellent homes available at great prices need repairs and renovation to qualify for FHA financing.
“The FHA 203k renovation loan offers a powerful solution that turns these challenges into opportunities,” states Mark Malone, VP Consumer Marketing, Lowe’s. “It’s important that both consumers and professionals are empowered to enjoy the benefits of this overlooked program.”
For more information, visit www.RE-buildUSA.com or call 877-872-2035.