What Is FHA 203(k) Financing For Investors?
August 28th, 2008 By Peter G. Miller
In October, 1996, HUD placed a moratorium on investor (non-owner occupant) participation in the 203(k) Rehabilitation Mortgage Program.
“This moratorium,” said HUD, “will allow the Department to consult with the industry and affected communities to explore legislative and policy reforms that will result in a program which will provide the neighborhood rehabilitation benefits of the investor program without the abuse and risk to the insurance fund.”
As of the start of 2011 that moratorium remains in effect and HUD, presumably, is still consulting.
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