Posted on September 28, 2020 by iwano@_84
MARION — Rather than building a new house and offering it for sale as they have for years, high school students in the Marion area this year are renovating a home for a low- to middle-income family.
The project, called Marion Community Build, is part of a class the students are taking. Through the class, they learn trade skills and work hands-on with tasks that go into rehabilitating a home.
The effort is a partnership among the city of Marion, Marion Independent School District and the Linn-Mar Community School District.
“This is a true community partnership,” said Nick Glew, president of the Marion Economic Development Corp. or MEDCO.
“Our organization was initially involved in this because of our Community Promise program, connecting our youth with high-demand jobs in our community. Sometimes they don’t understand there are opportunities right in their backyard.”
For 30 years, students have built brand-new homes to
Posted on September 22, 2020 by iwano@_84
The COVID-19 pandemic has reportedly made some residents hesitant about inviting contractors into their homes.
The result has been a decrease in requests for rehabilitation loans, according to Olmsted County Housing Director Dave Dunn.
Rochester officials are now encouraging people to consider using city or county programs to make home improvements.
“Equity, compassion, neighborhood vitality and livability are at the heart of the (Rochester) City Council’s strategic priorities,” Rochester Rochester Community Development Director Cindy Steinhauser said. “The Rochester Home Rehabilitation Loan Program is a great opportunity for residents who don’t have the funds to partner with the city to do needed repairs to their home and help preserve our housing stock and neighborhoods.”
The Rochester Home Rehabilitation Loan Program provides deferred loans for residents with qualified rehabilitation projects.
Loans up to $25,000 with 2 percent simple interest are available to homeowners to make home remodeling improvements related to health, safety
Posted on September 21, 2020 by iwano@_84
With home renovation shows happening in towns and cities across the U.S., it was only a matter of time before Chicago got its own. “Windy City Rehab” has just returned for Season 2.
This may come as a surprise to some followers, since the HGTV show’s stars—designer Alison Victoria and contractor Donovan Eckhardt—are mired in legal trouble. Two couples who’d bought their homes in Season 1 have filed lawsuits claiming shoddy construction and demanding their money back. (The court cases are currently unresolved.)
Meanwhile, Victoria claims to have unearthed some shady budgeting moves by Eckhardt, which may explain why he barely makes an appearance in the Season 2 premiere, “Spend More to Make More.” On this episode, Victoria now seems to be muddling through her renovation solo—and with a budget that’s already been blown.
Victoria and Eckhardt had originally purchased
Posted on May 2, 2020 by iwano@_84
With a plethora of homes still sold as short sales and foreclosures, renovation loans are increasingly popular with homebuyers. Many family dwellings are being redesigned for additional family members these days. As rental housing costs rise, families decide to live together and save money. There are multiple situations that could apply: boomerang children, aging parents, or divorced with grandchildren – the family home is in need of expansion or renovation to ensure everyone fits comfortably.
Rehab loans such as the FHA 203(k) program or the Fannie Mae HomeStyle Renovation Mortgage are the perfect answer for some first time homebuyers, too. If the borrower qualifies for the 203(k) program, the buyer can borrow based on what the house is expected to be worth after the home rehab is completed.
I will summarize some common home renovation loans available to consumers and some of the requirements for each. Interest rates are subject … Read More