NEW HOUSING BILL BASICS & WHAT TO LOOK OUT FOR 4: Fixer-upper Opportunities

The New Housing Bill gives grants for the purchase and rehabilitate foreclosed and abandoned properties. The subprime tsunami not only has created financial disasters, but has also given rise to suburban blight. Abandoned houses are detriorating and giving many areas the look of a ghost town.
This feature of the New Housing Bill can arrest the deterioration. It also opens up opportunities for fixer-uppers. With properties at record low prices, there is good money to be made. Fixer-uppers, however, have to hold the property until the housing market rises from the subprime depth.
info from FHA website, …read more