Text Size:
A|
A|
A
Email
PrintReal Estate Watch
Here are the most recent real estate transactions in the 13th Ward, as reported by RealSTATs:
• 8023 Bennett St., for $42,900
• 586 Rosedale St., for $1,869
• 7938 Susquehanna St., for $65,000
Speaking of real estate, several of you have asked about where you might find financing to rehab an investment property in Homewood (or elsewhere in the city of Pittsburgh, for that matter). I have located some sources for such financing. I have not investigated these companies, and am not recommending them; I am simply letting you know that they exist, so that you can look into them and decide whether any of their programs suit you.
NOTE: The U.S. Department of Housing and Urban Development has a mortgage insurance program called 203(k) that helps homebuyers to finance repairs of owner-occupied properties. At one time, a 203(k) mortgage could also be used for an investment property, but according to Maria Bynum, spokesperson for HUD's regional office in Philadelphia, "the Department issued a moratorium on the use of 203(k) financing by investors in 1996." If anyone says that you can use a HUD (or FHA) 203(k) mortgage for an investment property, they're giving you outdated information.
