Question about 203K - Posted by Carlos Ruano
Posted by Carlos Ruano on September 05, 2003 at 10:11:13:
My question is: my wife and I are refinancing our triplex via a 203K loan. We are having quite a bit of work done and I would like to know what I would have to do in order to get paid to do some of the work myself. We already have two contractors that will do most of the work, and I understand that if not all of the money is used while doing the repairs/changes that we want, then the left over money can either be rolled into the mortgage (to help pay off), or we can use the money to do other work. I would like to know if there is a way that I can hire myself, or if the contractor that we hired can hire me to do some of the work so that I can get paid. If it matters, I live in PA.
Any input would be greatly appreciated. Thanks!