Скачать или смотреть FHA 203k - Relatives CAN NOT be the Contractor on your job! See Why!

We get this question and run into this issue almost weekly. Can my brother-in-law be my contractor? The short answer is NO. FHA 203k renovation rules state that you, a borrower, are not allowed to use any form of relative to be the contractor on your renovation job. This would include, parents, brothers, uncles, in-laws, children, or any other relation. One reason for this, MOST of the time, relatives provide borrowers with a Friends and Family discount.

A discount can be detrmilentle to a project for many reasons. The main reason being, if FOR SOME REASON, your brother-in-law, were to get sick, hurt, or for some other reason not be able to finish the job, you now have a discounted amount of money to finish a job with a new contractor who WON’T want to give the same discount.

For example, you could get stuck with $50k left to finish a $75k job because of your friends and family discount. This is how you get caught with a half baked project and no place to live. No Bueno.

If you need help finding a 203k Trained and Experienced Contractor, check out Makeover Renovations at https://www.makeover-homes.com/Main/B... and request some help!

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