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Listing all posts with label 203k training and software. Show all posts.
  1. 203k Consultant Software

    We have been selling the best 203k software available for the FHA 203k and HomeStyle® Renovation Mortgage by FannieMae for over 25 years. We have the longest running software available to consultant in the business. All the original competitors have gone by the wayside.
    I remember a meeting in DC back in early 1995 as I recall. A competitor on the software came up to me and asked if I was the one with the software and promised to run me out of business.
    Another couple of guys asked me if I would consider selling my business in CA, way back then. I asked them, who were they? The informed me that they were doing business in 5 states and had 50 projects going… They did not have a clue till I told them we had over a hundred projects going in one state. I suggested they sell out to me. LOL.
    Our software was designed to allow you, as a consultant, the maximum speed to complete the project paperwork, and manage your draw requests.
    A few years ago, I was asked to take over a couple of projects where the consultant used another software product. I thought I would just use their scope of work to do the draws. I should have l looked at them more closely. It took them 24 pages to write up the scope… mostly because it takes too much time to walk through 24 pages where most of them are blank or have a bit of info on each page. It took about 45 minutes to do each draw request… I was a bit perturbed. When I got back to the office, I had one of my guys transfer the data to our scope of work pages, it took 3 pages to say the same thing for each of the projects. A draw request should typically take 10-15 minutes at the site. If it takes longer, it may be that additional questions needed to be answered.
    In the early days, the draw form had a front page and a back page that required signatures. I had set up a draw request procedure that would keep fraud under control. I went to the project site and met with the contractor, but the borrower was not there. The contractor requested that I leave the paperwork with him and he would get the paperwork signed and return it to me. Well, that did not happen. What did happen is that the contractor changed the amounts on page one of the paperwork where he had signed, then the owner came by and did not inspect anything, instead, he just blindly signed the paperwork. It was then hand delivered to the lender.
    If that is not funny enough, the lender then called me with “hey Mr Guru, you failed to sign the draw request.” I had them fax a copy to me, yes, in those days we did use fax machines. When I saw the items were much more than what I had put on the forms, I told them it was not to be paid out, I needed to get with the borrower and contractor to see who, or if both, had committed this fraud.
    I recommend to all consultants everywhere that they always sign last, and I see that isn’t being done by all. Had I signed the paperwork it might have gone through as a valid draw request and I would have been an unwilling participant in a fraud.
    If you are a consultant and you have been signing the paperwork and sending to your client for their signatures, it is only a matter of time before you will be involved in a fraud. Do yourself a favor and always sign last after everyone else signs the paperwork.
     Mike Young, 203k Team LeadeMike Young, 203k Team Leader    Mike ready for your 203k order

    We have fourteen offices in CA covering both CA states, NorCAL and SoCAL where we can cover the entire state.

    To learn more about the FHA 203k loan program go to www.203kOnLine.com. To contact us for a consultation please go to www.my203kconsultant.com and "order a consultation". If you like what you see here please take a look at Another blog by Mike Young in Spanish and other languages.

    Got a 203k project giving you "fits" contact www.203k911.comIf you are looking for quality 203k software for consultants to speed up the underwriting process..

    Skype name: the203kconsultant

    following Mike Young on Twitter Facebook You Tube 203konline.com MY 203k Team bug

     
     

  2. Why 203konline.com?

    Simply stated, we were one of seven programs evaluated at an underwriters’ conference a few years back... we receive 98% of the vote as "the most popular and complete 203k package in the industry". If that is not enough, we provide the most complete package from the lenders point of view. 

    Mark Williams turned in his first 203k project to his lender who told him, the packaged would save her 1.5 - 2 hours per project, we love it as it gives the LO the ability to work an additional 1.5 - 2 hours on getting another loan in the pipeline. We have developed a "system" for doing your FHA 203k paperwork. Everything is in modules. Everything is printed to a pdf from the "reports" menu. 

    To start a project, you merely go to the information page, fill out everything you know then go to the report’s menu, where you choose the upper leftmost report "Initial inspection report" where you save it to make it a pdf. This will provide you with the basis of your "consultation". I would guess that most consultants never "consult" with their clients. They do not know what it means to "consult".

    So what does it mean? When we go out to meet with the client, we discuss the paperwork they are expected to read and understand prior to closing. Typically, in the old days, the lender would provide them at the closing and suggest they read and understand them before signing them and then announce the title company closed in ten minutes. LOL, it was not quite that bad, but many were close. We just do it so there is not any question. We also go over the most misunderstood portions.
    Mike Young, 203k Team Leader    Mike ready for your 203k order

    We have fourteen offices in CA covering both CA states, NorCAL and SoCAL where we can cover the entire state.

    To learn more about the FHA 203k loan program go to www.203kOnLine.com. To contact us for a consultation please go to www.my203kconsultant.com and "order a consultation". If you like what you see here please take a look at Another blog by Mike Young in Spanish and other languages.

    Got a 203k project giving you "fits" contact www.203k911.comIf you are looking for quality 203k software for consultants to speed up the underwriting process..

    following Mike Young on Twitter Facebook You Tube 203konline.com MY 203k Team bug

  3. Draw request form - Seems simple enough on the surface

    There are four columns to a draw request. Column 1 is what each category or section has alloted to the completion of those items. Column 2 is everything that has already been paid out in the previous draw inspections. Column 3 is the current request, and column 4 is for the consultant to adjust the draw amounts if he or she doesn't agree with those items in column 3. Typically this would be a downward adjustment.

    Contractor creates or fills in a request form, column 3. Then we are called out to do an inspection to see those items were completed in a professional workmanlike manner. 

    Today was an interesting draw experience. The contractor failed to sign the draw request. I would normally ask them to sign prior to inspecting but this was the forth draw and we just started inspection. We went through all the items and when it came time to sign the contractor refused. I reminded him that this is to get him some cash flow, but he felt it more important to use this as a negotiating tool against the home owner some how. I told them to work it out and let me know when he wants to proceed. 

    He called me about a half hour later asking me to return to the site for hsi signature or he could meet me. I scanned and emailed the paperwork to him for his signature. Not all turkey's are running loose on the planet.

    Click here for the actual HUD instructions for filling out the draw request form.

    Mike Young, 203k Team Leader    Mike ready for your 203k order

    We have fourteen offices in CA covering both CA states, NorCAL and SoCAL where we can cover the entire state.

    To learn more about the FHA 203k loan program go to www.203kOnLine.com. To contact us for a consultation please go to www.my203kconsultant.com and "order a consultation". If you like what you see here please take a look at Another blog by Mike Young in Spanish and other languages.

    Got a 203k project giving you "fits" contact www.203k911.comIf you are looking for quality 203k software for consultants to speed up the underwriting process..

    Skype name: the203kconsultant

    following Mike Young on Twitter Facebook You Tube 203konline.com MY 203k Team bug

  4. How many 203k loans closed last year?

    you can get this information by clicking on this link https://apps.hud.gov/pub/chums/f17fvc/203k.cfm
    this will provide you the answer for each year and for many years. 

    Mike Young, 203k Team Leader    Mike ready for your 203k order

    We have fourteen offices in CA covering both CA states, NorCAL and SoCAL where we can cover the entire state.

    To learn more about the FHA 203k loan program go to www.203kOnLine.com. To contact us for a consultation please go to www.my203kconsultant.com and "order a consultation". If you like what you see here please take a look at Another blog by Mike Young in Spanish and other languages.

    Got a 203k project giving you "fits" contact www.203k911.comIf you are looking for quality 203k software for consultants to speed up the underwriting process..

    Skype name: the203kconsultant

    following Mike Young on Twitter Facebook You Tube 203konline.com MY 203k Team bug


  5. New Construction Loans

    New contruction has always been a challenge for a buyer who wants to build a lot on an in-fill lot, not a tract home. Chances are you don't build a home every day,likely this is the first one you have done in the past ten years ore more. We offer services to clients with "new construction" projects as well as renovation or updating of existing homes, we have found that many of these clients are in need of someone on their side to verify the costs and fees as they are getting their bids to verify they are reasonable for the area. HomeStreet bank is one lender who knows how to get new construction loans closed in CA and I'm sure they can close them in most other states. Our team is all over the USA and can assist you wherever you may be.

    We have also partnered with a SIP Builder to off homes built with Structural Insulated Panels. Why on earth would you like to know about these? They don't save allot of money but they do save allot of time. Once you have your blueprints we send them to the factory where they create a set of plans with SIP's. While this is going on your local contractor, trained by the factory to install the SIPs, is busy  lining up his crew. Once the plans are available the contractor will submit for permits. Once the permits are issued the foundation can begin. While the foundation is going in and curing the factory is busy building the SIPs for your project. Once they land the SIPs on site it takes about 60-90 days to have your home ready to move into. Just like most other service related business we would rather promise you a 90 day construction from the time the SIPs hit the ground. It takes about two to three days to put up a typical home framing to include the roof. There are a few of these about to go up in the Hayward hills about 4,000 SF but the more common size is like the six we are about to start in Richmond CA about 1,700 SF homes with two car garages. 

    Once you make the decision to build a home you want to get into it fast, then you may want to look at the SIP way of doing business. 

    Mike Young, 203k Team Leader    Mike ready for your 203k order

    We have fourteen offices in CA covering both CA states, NorCAL and SoCAL where we can cover the entire state.

    To learn more about the FHA 203k loan program go to www.203kOnLine.com. To contact us for a consultation please go to www.my203kconsultant.com and "order a consultation". If you like what you see here please take a look at Another blog by Mike Young in Spanish and other languages.

    Got a 203k project giving you "fits" contact www.203k911.comIf you are looking for quality 203k software for consultants to speed up the underwriting process..

    Skype name: the203kconsultant

    following Mike Young on Twitter Facebook You Tube 203konline.com MY 203k Team bug

  6. Join us this Saturday at 10:30 am PST or the following Saturday at the same time, it will be... 

    The best $49.00 you'll spend this year

    Make more money consulting using the knowledge you already have from your 203k consultant training. Provided you have been trained correctly. This webinar will show you how to take the knowledge you already have consulting and turn it into another profit center. You will see what you have to do to get your inspection fees up under the current "Guideline" restrictions but more than that you will see another way to use your skills to make more money that you ever thought was possible. 

    The best $49.00 you'll spend this year


  7. How to reset your Seismic Gas Shut Off Valve


    You can call a plumber to reset this little device and pay about $80 for the service. OR you can reset it yourself with a small screwdriver and a little 1/8 turn. there is a light that is red when tripped and green once you reset it.

    Is this device required to be installed on my home in Contra Costa County or Alameda County CA? Click here to see the answer.


    Mike Young, 203k Team Leader    Mike ready for your 203k order

    We have fourteen offices in CA covering both CA states, NorCAL and SoCAL where we can cover the entire state.

    To learn more about the FHA 203k loan program go to www.203kOnLine.com. To contact us for a consultation please go to www.my203kconsultant.com and "order a consultation". If you like what you see here please take a look at Another blog by Mike Young in Spanish and other languages.

    Got a 203k project giving you "fits" contact www.203k911.comIf you are looking for quality 203k software for consultants to speed up the underwriting process..

    Skype name: the203kconsultant

    following Mike Young on Twitter Facebook You Tube 203konline.com MY 203k Team bug

  8. How to make money consulting in spite of the HUD Guideline

    That's right. HUD in its infinite wisdom has come out with what was touted as the "new guideline" while in actuality it was not new at all with regards to 203k consultants. In fact it took us back to re-enforce the 1994 fee levels. An outrage for many of us as you can imagine. They don't go a year without an increase in their wages and expect us to go back 21 years for ours. 

    We have worked hard, building our businesses and when all other fees were deregulated in 2011 we took that as a good thing, though it turns out it was deregulated for all but our fees. Now a compliance inspector can get $450 to make a 2 minute inspection to see if a broken window has been fixed or not but we are expected to take $100 and look at how a home is put together. Is that window properly flashed, sealed, etc, on top of the broken glass repaired.  On top of that they now have dumped change orders on us and took it away from the lender… except some lenders want to “okay the CO prior to commencing the work” like they ever did that in the first place. Most didn’t, most rely on us in the field to make that decision for them.

    There has been lots of talk on the internet and blogs about how many of you are planning to get out of the business as you can’t possibly do a draw inspection for $100. You are absolutely correct. No one can and make any money at it.

    Join us for a 1-hour webinar and we’ll show you what you need to do to make money in this business in-spite of the Guideline. Yea, you gotta pay to see the solution, You will see how you can increase your profits substantially over the consulting work you have been doing provided you have been consulting properly... some of you aren't and weren't. The fee to attend this 1-hour session is only $49 and may run over with Q&A session.
     
    We’ll show you how to take your knowledge as a 203k consultant and turn it into a profit center for your business like you won’t believe till you see it, and no more draw inspections unless you want them.


    Learn how to make more money than the HUD Guideline suggests and increase your inspection fees legally in this 1-hour webinar. There is only room for the 1st 100 signing up in this first session, so sign up early. We will have additional events as the demand suggests.
    The webinar will show you how to make even more money than HUD pays. I just did one for another client that HUD would pay $1,000 and my fee was $5,500. Doing my second one this coming Saturday where my fee will be $7,500 or close to it. Still based on the construction amount. It is set up for December 28th 2015, 8-9 am PST. This will be the best $49.00 you spend this year and will get your new year off to a running start. Click here to sign up
    There is only room for the 1st hundred who sign up, others will have to wait for a future event.

    Be sure to send us an email to be notified of the next presentation

    Mike Young, 203k Team Leader    Mike ready for your 203k order

    We have fourteen offices in CA covering both CA states, NorCAL and SoCAL where we can cover the entire state.

    To learn more about the FHA 203k loan program go to www.203kOnLine.com. To contact us for a consultation please go to www.my203kconsultant.com and "order a consultation". If you like what you see here please take a look at Another blog by Mike Young in Spanish and other languages.

    Got a 203k project giving you "fits" contact www.203k911.comIf you are looking for quality203k software for consultants to speed up the underwriting process..

    Skype name: the203kconsultant

    following Mike Young on Twitter Facebook You Tube 203konline.com MY 203k Team bug

  9. The FHA 203k is for properties that require some amount of repair. I say some amount as there is no minimum however many lenders have created their minimum. This loan has two facets. Once is for smaller quick fixes that take about 30 days + - to complete and require NO structural repairs. this is called the "Limited 203k" and used to be known as the "Streamlined k".
    Limited 203k: Typically includes repairing broken windows, replacing roofing materials, painting, replacing floor coverings, updated kitchens and bathrooms. NO structural work and repairs must be no more than $35,000 including costs and fees. That means if your lender requires a 10% contingency and $800 in fees you are actually looking about $32,000 as your construction maximum amount. Some lenders require a 20% so you are down to $28,200 for your actual construction limit.
    Standard 203k: This loan has a much higher construction limit. We just did one with a construction budge of $544,000 + 10% contingency. In never fails when I speak at a Real Estate Association when I ask if anyone has ever had a 203k fall apart due to the loan amount for the construction part being too small. I get a bunch of hands come up... then I ask, was the construction about $40,000, and most of them say yes, how did you know?
    This is when I drop the bomb... it wasn't that the FHA 203k program limits were too small but the lender you went to didn't offer the "Standard 203k" and wasn't a team player. They were more interested in keeping the loan in play for them to hell with the buyers desire to buy this particular property. So they told the borrower to find another property. Had any of these deals been with a knowledgable Realtor they could have received their commission sooner, sold that property and not had to go back to the drawing board and seek another property for their client. Who was served by a lender who told them the construction budget was too high... only that lender, not the Realtor, not the Buyer Clent. Are you setting yourself up for a law suit by not knowing what programs might be the best for your client? That is the question you should be asking yourself.
    What could have happened and should have happened if the Realtor had been up to date on this program would have been to find another lender Like Prospect Mortgage who does both type loans. Prospect Mortgage is a full service 203k provider and can do either type loan. They also provide the Fannie Mae version of this product.
    Typical improvements: Structural modifications for updating your home, opening up the walls to create great rooms, etc. Enlarging the kitchen, room additions, garage conversions, adding detached or attached garages, septic system replacement, drilling a new well for drinking water. All these items are possible with the FHA 203k program.
    Unusual uses for the FHA 203k: Fire torn areas like the fires we had in Lake County Fire and the Butte/Amador Fire, as well as the SoCal fire damaged areas. The victims need to know about how this program can help them faster than any other government program. It is actually a sister program to the 203k called the FHA 203h. It is like a 203k on steroids. If you know anyone that was affected by one of these or any other national disaster we can easily get you back on track to getting your home rebuilt. Call is at 707.812.7668 if we can assist you or someone you may know.

    Mike Young, 203k Team Leader    Mike ready for your 203k order

    We have fourteen offices in CA covering both CA states, NorCAL and SoCAL where we can cover the entire state.

    To learn more about the FHA 203k loan program go to www.203kOnLine.com. To contact us for a consultation please go to www.my203kconsultant.com and "order a consultation". If you like what you see here please take a look at Another blog by Mike Young in Spanish and other languages.

    Got a 203k project giving you "fits" contact www.203k911.comIf you are looking for quality203k software for consultants to speed up the underwriting process..

    Skype name: the203kconsultant

    following Mike Young on Twitter Facebook You Tube 203konline.com MY 203k Team bug


  10. Why do they say I can't refinance before 6 months is up?

    You just purchased a home. Now you wish that you would have used a renovation loan as your home isn't quite the way you wanted it but you needed to close the loan quickly, or so everyone told you. Now you can't really enjoy it till you get it fixed up and everyone is now telling you that you need to let this loan mature at least six months before you can refinance. Well, it just isn't true. In fact, it would be to YOUR benefit to refinance immediately with regards to getting the money to fix it up.

    BAH HUMBUG !

    FHA 203k loans have a little known feature for those who need to fix up a property they just purchased and likely should have purchased under the 203k program in the first place. It is simply that you can refi immediately and as long as you close the new loan within six months of the original loan closing YOU get to count all that money you put down as money you have in the new transaction. This is huge because you can 

    This is huge because otherwise you would have to show equity on a home you just purchased and may have to come up with more money to close the new loan. The drawback is that the original lender may loose their commission on the first loan. Not typically an issue if you let them do the new 203k loan. If they don't do the FHA 203k then they just loose their commission. Sometimes $%^* just happens. In many cases they can do the 203k for you and recapture the commission.

    Mike Young, 203k Team Leader    Mike ready for your 203k order

    We have fourteen offices in CA covering both CA states, NorCAL and SoCAL where we can cover the entire state.

    To learn more about the FHA 203k loan program go to www.203kOnLine.com. To contact us for a consultation please go to www.my203kconsultant.com and "order a consultation". If you like what you see here please take a look at Another blog by Mike Young in Spanish and other languages.

    Got a 203k project giving you "fits" contact www.203k911.comIf you are looking for quality203k software for consultants to speed up the underwriting process..

    Skype name: the203kconsultant

    following Mike Young on Twitter Facebook You Tube 203konline.com MY 203k Team bug

  11. The new HUD Guideline

    I'm getting lots of calls about how HUD can shove it and it has lots of consultants in a tizzy. STOP, please stop, let the dust settle a little bit. I was talking to a HUD official in DC the other day and was assured that thing are on the commissioners desk for signatures that changes all that we are reading with regards to our future fees. 

    In any case our fees are not determined by HUD, they are determined by each and every one of us as individuals. If you want to charge off the guideline and get 1994 pricing go for it. It isn't any more than an amount that HUD has determined is the maximum that they are willing to include in the loan amount. Yes it is grossly out dated and no, it doesn't come close to reality. 

    If these prices go into effect there will be so many areas where the public can no longer be served by this progam and that isn't typically HUD's idea of public service on their programs. Just "chill" for a bit and lets give my DC contacts some consideration and then, if it was a lie, the court system will be the next likely step. 

    Any lender that tells you what to charge is setting themselves up for a rude awakening. They have been trying to control our fees for at least twenty years that I know of and this rude awakening is likely the next step. If you want to be part of the cure, then get out your check book and be ready to spend a hundred bucks when that time comes. If we all do that, we will not only show unity but we will also so them we can no longer be pushed around.

    This is only HUD and not Fannie Mae so all isn't lost. If you want to be part of an even larger loan program that works like the 203k with limits up to $3 Million let me know and join the Mike Young Team of consultants nationally.

    Mike Young, 203k Team Leader    Mike ready for your 203k order

    We have fourteen offices in CA covering both CA states, NorCAL and SoCAL where we can cover the entire state.

    To learn more about the FHA 203k loan program go to www.203kOnLine.com. To contact us for a consultation please go to www.my203kconsultant.com and "order a consultation". If you like what you see here please take a look at Another blog by Mike Young in Spanish and other languages.

    Got a 203k project giving you "fits" contact www.203k911.comIf you are looking for quality203k software for consultants to speed up the underwriting process..

    Skype name: the203kconsultant

    following Mike Young on Twitter Facebook You Tube 203konline.com MY 203k Team bug

  12. We have your back when it comes to remodeling

    That is just what it means to be a 203k consultant or renovation/remodel consultant. Most people don't remodel their home very often and guess who knows it? That is correct, the contractors know it and quite often they capitalize on it. 

    The task was to add a second story to this home and change from a "bungalow style" home to a 2-story "craftsman style" home with a budget of $150,000, well, it couldn't be done but I felt it could be done for $159,000 plus contingency and the borrower agreed that it was still doable so we moved forward.

    It is my job to create a scope of work and give you a bid on what I think a contractor should be charging for this specific SOR (scope of renovation) as so many lenders call it. If your consultant isn't bidding on this project before you solicit bids from the contractor(s) then your consultant ISN'T doing their job and you are not getting all of the service you are paying for.

    Next step is for us to print out the SOR without prices in it and give it to the borrower to use to solicit bids. We don't like to let this out of our control so we send it to the borrower's contractor selection with a copy to the borrower so they can see our comments to the contractor and that way we maintain control so the lender can close the loan quickly.

    Once we have a "confirmed bid" from a contractor so our bid is "validated" the appraisal is typically ordered. Many will order the appraisal with our bid paperwork as the scope of work doesn't change, only the price may change slightly.

    Now the bids come in. In this example the borrower had a contractor but she made a crucial mistake, she let the contractor know that she was so excited to have them working on her project to take this bungalow home and turn it into a "craftsman" style home. Her contractor bid the job at $298,000 versus my bid of $159,000. Yikes! What do we do now?

    That is easy. We sent it out to another contractor that neither of us had any experience with, no preconceived notions. The second bid came in at $161,000. Just 1/2% higher than my original bid. 

    Conclusion: Rest assured we have your back. When the contractor's know that they will typically bid a bit tighter in the first place.

    This has become more and more important for you since our purchase or refinance and renovation loan limits have climbed to $3,000,000. There are lots of homes in our area that qualify for these higher loan amounts. We had three last week that were purchases at nearly a million dollars plus the renovation money which is well over the FHA and FannieMae loan limits. Not a problem, we have you covered.

    Mike Young, 203k Team Leader    Mike ready for your 203k order

    We have fourteen offices in CA covering both CA states, NorCAL and SoCAL where we can cover the entire state. This post is for our St Lucie County office. To learn more about the FHA 203k loan program go to www.203kOnLine.com. To contact us for a consultation please go to www.my203kconsultant.com and "order a consultation". If you like what you see here please take a look at Another blog by Mike Young in Spanish and other languages. Got a 203k project giving you "fits" contact www.203k911.comIf you are looking for quality 203k software for consultants to speed up the underwriting process...

    Skype name: the203kconsultant

    following Mike Young on Twitter Facebook You Tube 203konline.com MY 203k Team bug

  13. My 203k consultant isn't doing a good job of managing the contractor!

    Well, I don't know how to put this any other way but "it isn't the consultant's job to manage the contractor" so he or she shouldn't be expected to do that.

    1) The consultant is a consultant when first hired. They will consult with you and help you develop a plan to renovate the property. A "scope of work" or "scope of renovation" so that every contractor you might have bid this job does so with the same list of items to complete.

    2) Secondly the consultant can assist you in finding a lender or a contractor if you haven't found one. We typically know who can close these loans fast and who only talks a good talk. We can give you our "do not use" list of contractors but only in the event you have chosen one of them. Some contractors, a very short list, don't have a clue about contracting but have had the ability to pass the test and get their license.

    3) The consultant can assist you in choosing a contractor from the bids that have come in on the project. The lowest bid may not be the best bid. We had one not too long ago where we bid the job at $82,000 and the first contractor bid over $100,000 and the second bid at $67,000. Of course the owner felt they wanted the $67,000 bid. That is fine but we asked the lender to fund the $82,000 as it was pretty clear to me that they forgot something or made an error and we are not here to bankrupt a contractor. 

    4) Once the loan closes we are "no longer the consultant" however we then work for the lender as the "draw inspector" on our projects. 

    No where in our job description does it say we have to, or are expected to, manage the contractor. On the contrary we "consulted" and told you right up front that "YOU are the boss, YOU are responsible to choose the contractor, YOU are responsible to call the contractor and communicate your pleasure or displeasure with the contractor. 

    As an inspector to monitor the progress we are typically out to see the property about once every 30 days so "the borrower", being there nearly every day, must call the contractor and insure they are on the job when it appears they aren't.

    The Homeowner/Contractor agreement says very clearly that once the project begins the contractor should have someone on the project working each day until it is completed so feel free to call them and let them know when their employee(s) don't show up on the job. 

    Mike Young, 203k Team Leader    Mike ready for your 203k order

    We have fourteen offices in CA covering both CA states, NorCAL and SoCAL where we can cover the entire state. To learn more about the FHA 203k loan program go to www.203kOnLine.com. To contact us for a consultation please go to www.my203kconsultant.com and "order a consultation". If you like what you see here please take a look at Another blog by Mike Young in Spanish and other languages. Got a 203k project giving you "fits" contact www.203k911.comIf you are looking for quality 203k software for consultants to speed up the underwriting process..

    Skype name: the203kconsultant

    following Mike Young on Twitter Facebook You Tube 203konline.com MY 203k Team bug

  14. Award winning 203k Software for consultants and lenders

    We received an interesting call the other day from a competitor who was trying to sell their software to one of my staff consultants. We learned all kinds of stuff about our software and what it couldn't do. We had to laugh because in every instance we could do what they said we couldn't do and what makes it more interesting is that we have been doing all of those things for 8-10 years in all cases. 

    I can't tell you what our competitor's software may or may not do, I would be folling myself to be so presumptuous. What I can tell you  that our software was voted the easiest to underwrite for it's output by a national association of mortgage lenders. 98% of the 400 attendies told the story for us.  I can also tell you from actual experience that I took over two projects recently from two different "consultants" both using our competitors report software and it showed me just how far superior our software is to the competition. 

    The reports were confusing and poorly put together. They required too much reading just to see there is nothing there to read. If you are using this other software  I can now tell you without a doubt that you are using a toy when comparied to our product. You will save about an hour writing each report and about a half hour to an hour in performing each draw inspection. Every consultant I have talked to that admits to using this other software isn't happy with it but they are used to it. So we have offered a solution. A FREE 3-month trial of our product to any existing consultant so you can actually test the product and our claims. All I ask is that you read the user's manual we provide. If you feel you would like to actually watch a project being written we can set that up for you as well. 

    Why do I say for "Lenders" too? There are allot of streamlined k loans out there, soon to be called the Limited 203k btw. Lenders use our software because it is so very simple to learn and navigate. It also allows you to input up to five trade contractors and then kick out separate HomeOwner/Contractor Agreements and separate "Scopes of Work" for each contractor in addition to all the other paperwork you may need to complete a project. There are a number of lenders who "require" the use of our software to speed their underwriting process. We do offer our lenders who agree to use our software output exclusively a special discount to their consultants. This helps the lenders close loans faster by being able to have that consistency and brevity.
    Mike Young, 203k Team Leader    Mike ready for your 203k order
    We have fourteen offices in CA covering both CA states, NorCAL and SoCAL where we can cover the entire state.
    To learn more about the FHA 203k loan program go to www.203kOnLine.com. To contact us for a consultation please go to www.my203kconsultant.com and "order a consultation". If you like what you see here please take a look at Another blog by Mike Young in Spanish and other languages.
    Got a 203k project giving you "fits" contact us at www.203k911.comIf you are looking for quality 203k software for consultants to speed up the underwriting process.
    Skype name: the203kconsultant
    t_logo-a.png Facebook You Tube 203konline.com MY 203k Team bug

  15. This one gets me all the time. You forgot the case number, here it is please insert it on each page of the report. I'm surprised you forgot it with as many of these as you have done.

    LMAO, the case number is ordered after our report is completed and turned in. It is ordered when the order the appraisal, they can't order the appraisal till they know the cost of the repairs. It is a "catch 22" for sure. There isn't a week that goes by that we don't get asked to provide the case number on all the forms. It is actually a pretty simple thing to do with our proprietary software. We merely add the case number and reprint the report with a push of a button then send that pdf to the client and their lender. 

    If you are a 203k or a HomeStyle® Renovation Mortgage lender and would like to try our software for FREE to kick the tires please request it and we are happy to provide it to you. It is actually an asset to many who only do the streamlined k, soon to be renamed "Limited 203k". Our software output was voted "easiest to underwrite" by a 98% margin over our competition. If you haven't tried it ask for a free trial. If your consultants reports are adding correctly or are just leaving too much work for you.. give ours a try. 
    Mike Young, 203k Team Leader    Mike ready for your 203k order
    We have fourteen offices in CA covering both CA states, NorCAL and SoCAL where we can cover the entire state. To learn more about the FHA 203k loan program go to www.203kOnLine.com. To contact us for a consultation please go to www.my203kconsultant.com and "order a consultation". If you like what you see here please take a look at Another blog by Mike Young in Spanish and other languages. Got a 203k project giving you "fits" contact us at www.203k911.comIf you are looking for quality 203k software for consultants to speed up the underwriting process.
    Skype name: the203kconsultant
    t_logo-a.png Facebook You Tube 203konline.com MY 203k Team bug

  16. I'm the last one to talk about the competition's product typically because I don't know what their product does or looks like... I say typically since I just had the opportunity to take over a couple of projects where my competition's sofware was used... what a nightmare. It took 45 minutes to do a draw inspection versus about 10-15 minutes using our software. 

    I learned first hand just how mure more powerful our product was. Now, I can actually state that if you are using any other product we can save you lots of time on your draws. Underwriters have voted us #1 for underwriting the loans. That means our product helps get the loan closed faster. Our competition takes 12 pages to say what we say in 6. Why would you want to look through 12 pages to find the answers you need versus doing it in 6 pages? 

    This is like playing the game with as a toy versus a tool. I challenge anyone who is currently a consultant to use our software for 3 months and tell me different. I think once you try it you will fall in love with our product. I'll give you a free 3 month trial with proof that you are using our competitor's software. You will be the big winner. 
    Mike Young, 203k Team Leader    Mike ready for your 203k order
    We have fourteen offices in CA covering both CA states, NorCAL and SoCAL where we can cover the entire state.
    To learn more about the FHA 203k loan program go to www.203kOnLine.com. To contact us for a consultation please go to www.my203kconsultant.com and "order a consultation". If you like what you see here please take a look at Another blog by Mike Young in Spanish and other languages.
    Got a 203k project giving you "fits" contact us at www.203k911.comIf you are looking for quality 203k software for consultants to speed up the underwriting process.
    Skype name: the203kconsultant
    t_logo-a.png Facebook You Tube 203konline.com MY 203k Team bug

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