In a recent Washington Post article, Repairs Within Reach, Mara Lee highlights how using an FHA 203(k) loan allowed a couple to finance the purchase and repairs of a badly damaged foreclosed townhome.
The article goes on to tell of how they ran into extensive delays, problems with the appraisal, etc. On Kauai we don’t have as many REO listings with extensive damage. But some, such as this Kalaheo REO listing have incomplete work..aka, remodel in process at time of foreclosure.
For more articles on foreclosures and short sales – www.Delicious.com/Susanna4Kauai