A relative has just died. He had a life insurance policy with you listed as the beneficiary. There’s just one problem: the life insurance policy is missing. You have no idea which insurance company wrote it.

If you find the missing life insurance policy in the future, are you still eligible to receive the death benefit? Hope they paid their insurance bills

If you’re a beneficiary and you find the lost life insurance policy shortly after the insured dies (within six months to a year, for example), claiming the death benefit should be trouble-free.

First, determine if the insured had term or permanent life insurance. If the insured held a term policy, you’ll receive the death benefit if he died before the end of the policy term. If he died after the policy expiration date, you would get nothing.

If the insured had a permanent life policy, you’ll receive the money if the death occurred while the policy was “in force,” meaning all premium payments were made up until the time of death. If the death was a while ago, you’ll receive the benefit with interest from the date of death.

If the life insurance policy lapsed — meaning the insured stopped making premium payments before he died — there’s a chance you might get nothing. When a permanent life insurance policy lapses, most insurance companies switch its status from permanent insurance to one of two options: “Extended term” — The insurance company uses the cash value of the policy to buy a term life insurance policy for the same death benefit using the cash value of the policy. The death benefit will continue for the longest period the cash value will purchase. “Reduced paid up” — The insurance company will keep the policy in force permanently, but will reduce the death benefit.

Gerry Brogla, an actuary for State Farm, says in the majority of the cases at his company, the permanent policy continues as extended term if it lapses. At State Farm, extended term is the default option for most permanent policies.

If the policy lapses, and the extended-term period expires before the insured dies, the policy is worthless and the life insurance beneficiary will get nothing. If the insured dies before the extended-term period is up, the beneficiary will receive the death benefit. If the policy lapsed because the insured died (thus ending premium payments and causing the insurance to be placed in extended-term status), the beneficiary will still collect the full death benefit, regardless of when the extended term was up. The beneficiary always needs to supply the insurance company with a death certificate to verify the date of death.

There is no time limit during which a life insurance beneficiary must step forward to collect the money, according to Jack Dolan, spokesman for the American Council of Life Insurers. “If a person shows up 30 years after [the insured's] death, the company still makes good on it,” Dolan assures. What happens if no one ever reports the death?

If the insured dies and the insurance company does not learn of the death, the policy lapses. Insurance companies will take steps to find out why a policyholder stopped making payments.

When an insurance company stops getting payments, it sends letters to the insured informing him the policy may lapse as a result of unpaid premiums. If the letters go unanswered, the company might initiate a search to find the insured. If that comes up empty, the company will then lapse the policy.

If a beneficiary to a policy never steps forward, it unfortunately means the insured paid money to a policy throughout his life and his beneficiaries never see a penny. This is why its a good idea to make sure beneficiaries are aware of any life insurance policies you have.

If you’re lucky, the state may have your money

In some cases when a beneficiary fails to claim a death benefit for several years, the money is transferred to the state where the insurance policy was purchased under the escheat laws.

If a company knows an insured died and it cannot find the beneficiary, it must turn the full death benefit over to the state comptroller’s department within three to five years of the insured’s death. The money is transferred to the state where the insured bought the policy. The money is considered “unclaimed property” and gets lumped in with dormant bank accounts and uncollected rent deposits. The comptroller’s department maintains a database that lists the names and addresses of lost life insurance beneficiaries.

Many states will try to contact life insurance beneficiaries in an effort to pay the death benefits. In Texas, for example, the names and addresses of the beneficiaries are published annually in each county in the state. In New York, the Web site of the New York State Comptroller’s Office of Unclaimed Funds has an online search to find any unclaimed death benefits owed to you. You can find out the procedures in your state by contacting the office of your state comptroller or treasurer.

Keep in mind your chances of finding the policy with the state are slim. The insurance company has no obligation to hand the money over to the state if it’s unaware the insured died. In most cases, it’s the beneficiary who contacts the insurance company.

Also, the insurer only transfers the money to the state three to five years after it cannot find the beneficiary but knows the insured died. If the state doesn’t have the death benefit, it’s likely the insurer is still looking for the beneficiary or doesn’t know the policyholder has died.

Unclaimed death benefits are rarely transferred to the state. Dave Potter, a spokesman for Hartford Life, says less than 1 percent of his company’s death benefits go unclaimed.

Del Chance, a life insurance claims manager at State Farm, says, “Turning over life policy benefits to an individual state after the death of an insured is extremely rare. State Farm utilizes their own search techniques as well as outside vendors to locate lost beneficiaries in the event of the death of one of our insureds. By and large these procedures have always located the beneficiary.Tips for making sure your life insurance beneficiaries get your death benefit:

1. Give your beneficiaries your policy information. It can be a difficult and awkward conversation, but an important one.

2. Keep all your financial records (especially your life insurance policies) in one place. Don’t force your beneficiaries to search your house from top to bottom after you die.Tips for looking for lost life insurance policies:

1. Go through canceled checks or contact your relative’s bank for copies of old checks. Look for checks made out to insurance companies.

2. Ask those who may have known about your relative’s finances. Speak with the relative’s lawyer, banker or accountant. Also contact the relative’s insurance agent.

3. Contact your relative’s past employers. They might know of possible group life insurance. The insured might have also purchased supplemental life insurance through work.

4. Check the mail for a year. Premium bills and policy-status notices are usually sent annually.

5. Look at income tax returns for the past two years. Check for interest income from policies or expenses paid to life insurance companies.

6. Contact the Medical Information Bureau. If your relative bought life insurance fairly recently, there might be a trail of the companies to which he applied. The Medical Information Bureau (MIB) maintains a database that might show if insurers requested your relative’s medical information within the past seven years. Record searches can be requested through the MIB’s Policy Locator Service and cost $75. The MIB says that nearly 30 percent of searches turn up leads.

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This interview is an excerpt from Kevin Gianni’s Fountain of Youth Summit, which can be found at http://fountainofyouthworldsummit.com. In this excerpt, Donna Krech shares her examples from her life changing system.The Fountain of Youth World Summit with Donna Krech writer, speaker and “belief builder.” Kevin: Right. Let’s get into that system, it sounds good. I’m fired up. What are some of the key things that we can identify for people who want to be successful in weight loss and success? How people can identify their motivational assassinators, and what they can do to get through them. So, we’ll start with the first part of the question, what are a couple of things that people need to identify as keys to success or things that are causing them failure.Donna: I think you can probably do it in one and that is you can maintain your motivation so that you can have life success. You can maintain motivation. I don’t know if people stop and realize that motivation has been zapped. Identify a few of the keys to whether it’s weight loss again or business success, relational success, it doesn’t matter.” The very first thing I would tell you Kevin is that you need to picture a funnel in your mind, and I don’t care if coming out the bottom of that funnel is permanent weight loss, permanent fitness, or being a millionaire, or building a business empire, it doesn’t matter what is. When we go to the top of that funnel and I’ll just use, for example, weight loss, what happens is people look at that funnel and go, “Oh, I’ve got to watch what I eat. I’ve got to put all the different foods that I eat to that funnel.” No, no. I’ll tell you that if you can picture that the bottom part where the, you know, the end-result comes out, that bottom part of that funnel, you’re going to go up on that funnel only about 15%, and 15% of permanent weight loss has to do with food.Kevin: OK.Donna: Now you are going to move up on the funnel, and I’ll give you about 30% more space in that funnel and I am going to tell you that movement has to do with about 30% of permanent weight loss. It’s more important than the food, but it’s not the remaining 55%. The remaining 55%, Kevin, is motivation or what we call life success. And I could prove that to you by telling you to ask anybody you know this question, “Well, let’s see have you ever counted calories to lose weight?” “Yeah.” “Have you counted carbs to lose weight?” “Uh-hmm.” “Have you gone on the newest high-protein craze?” “Yup.” “Have you tried the bars?” “Uh-huh.” “The pre- packaged foods, etcetera?” “Yes.” And we could just keep going and going, and everybody goes yes, yes, yes, yes, yes, yes, yeah. OK, so you’ve done about everything there is to do with regard to food, and you’re still not at your goal, right? So, it must not be about the food. It must be about focus and belief and habits and emotional reaction and surroundings and time management. It must be about maintaining motivation. Now, I can go to that same thing with you and have the bottom of the funnel be making money or business success. Business success only has about 15% to do with the sales that that business makes.Kevin: Gotcha.Donna: It’s only got about 30% to do with the marketing and the relationship. It’s got 55% to do with maintaining the motivation so you can celebrate when times are high and keep going when you hit the hiccups. No matter what the successes we’re trying to achieve, you got to picture that funnel and you have to understand the components of the funnel.
Now, the second point, the second thing that I would identify is that you need to understand that in that 55% section live, unfortunately, the motivation assassinators, but the good thing about getting to know the motivation assassinators is that that is how you now can attain never-ending motivation. The motivation assassinators are focus or they try to zap your focus. You would maintain your motivation when you learn how to maintain the focus. The negative belief, motivational assassinator, but then learning how to build your belief and you can completely change your belief, you can completely change from “Money only happens in people’s lives who are conniving and evil” to “I was created to be incredibly wealthy and full of abundance and prosperity, so that I can bless others lives as well.” Habit is what “H” stands for, emotional reactions, surroundings, and time management and the “E” for emotional reactions can also stand for energy, but the acronym that we live by is FBHEST. That’s how you maintain motivation, that’s how you start to increase never-ending motivation, and that’s how you identify the motivation assassinators.
The third thing I would say, you asked for three keys, is to understand life success, like I said weight loss is not about food, anymore than building a business is about making sales, or leaving a million dollar legacy is about making money. It’s about maintaining motivation. You have to know where you want to go, and you got to understand ahead of time what is most likely going to come against you to keep you from getting where you want to go, and then you make a choice, and if you’ll allow me to say it this way, choose your weapons because if you’ve got a motivation assassinator coming against you maintaining your motivation, there are tools that you can use, simple, easy to use tools that will equip you with a never- ending motivation artillery, and you can take out the motivation assassinators. That’s been the biggest difference in my life from the old story to the new story. The biggest difference in my life has been…listen I just identify… because they don’t go away completely ever, but I identify them. I can see those motivation assassinators when they start showing up and I get rid of them so quick. Where unfortunately, we in the past, we’ve let them kind of eat at us.Kevin: Right.Donna: And then sometimes even, I’m sad to say, they destroy us before we even realize they were coming against us. Well now, I know which of them are going to come against me most often, and that’s true by the way for everybody. Everybody’s got a couple that comes after them most regularly.Kevin: Let’s talk about what that means. What is never-ending motivation? To me, that sounds awesome. I want to know how you can do it. I think everyone has some sort of an issue with motivation, maybe procrastination, maybe “laziness,” so what is never-ending motivation and let’s just tear into it.Donna: Well, let’s talk about the person I mentioned a little bit earlier when we were talking. Marsha is a…she really is a go-getter. She really is. Yet she found herself at a point in her life…and she has been a goal-setter too, by the way, so she’s a go-getter and she’s a goal-setter. She found herself at a point in her life where her confidence had just disappeared. She was unfit. She was depressed. As I mentioned before, she had an incredibly low income in a company where there was astronomical potential in the position that she was in. She knew the potential that she had in her position, but she also knew that she was not motivated, that she didn’t feel the motivation she had once felt. Now, she didn’t understand why she didn’t feel it. She just knew that she wasn’t motivated and she would tell me that, “I’m just not motivated. I’m just not motivated,” and you know what, if we’re honest, we can all say that about a certain point in our life, “I am just not motivated.”
Well, we began to go through FBHEST, and we began to identify what was zapping her motivation, so that she could then build the never-ending motivation, and she identified that when she was in her work environment, she was pretty good. She wasn’t really producing a lot because the motivation had been zapped, but she felt better when she was in her work environment because it was positive, it was upbeat, it was uplifting, and at about the moment she would go home, she would get into a funk. She would, in her case, dig into the ice cream, sit in front of the television with the remote in her hand and never left her house for like the whole weekend. Now, you have to understand, her p
ersonality is very social, very outgoing, very fun-loving, and she was completely the opposite of most of what she is, and her motivation assassinator was “S,” as in Sam, and it was surroundings, and she identified that in order to build her never-ending motivation, she had to change her surroundings. Now when she did that, she became incredibly fit. She lost weight. Her habits began to change. She doubled her income. Her entire life got better. She thought that her motivation assassinator was time management because she was a little bit scattered and not getting everything done when it needed to get done, and while the time management tools provided in never-ending motivation were very helpful to her and she really has applied them, when we really got to analyzing it, we found out that her main one was surroundings and again, we all, like I said, we all have a couple. When she got her surroundings kind of repaired, she really focused on the time management tools with never-ending motivation and, well, that’s how everything has happened. She is now making more money. She is more fit. She is building her career, she’s, I mean, she’s completely changed her look. She is so confident and her life is full of friends again, and it was simply because she needed to learn how to build never-ending motivation.Kevin: Right.Donna: So, that she could keep it going in her life.Kevin: And so, if she is having these challenges, what are some of the ways that, what are some of the techniques that she specifically used? How do you go about changing some of that belief?Donna: We identified first, obviously, which of the motivation assassinators come against you most often. From there, we then know how we can begin to give you never-ending motivation by providing you with the tools. So, we’ll use more Marsha’s example. She believed it was time management, and like I say, in most cases of her life, she was right. Time management was a problem. Most people can’t and don’t identify, “Oh, gosh! Time management is a problem for me.” They go, “Oh, my Gosh! I am so busy. I’m so busy.” So, when I hear a person say that to me, I can then begin giving them tools. Marsha began to use that tool and just picked a couple of those techniques. One of which was she cut her television back. She didn’t cut her television out because that’s pretty unrealistic for most people. She cut back and in place of the television, on one day, she would workout and on another day, she would read, some sales building or personal development building material. OK. So now, she had found time to build herself up where she was spending time that was actually taking her down. She then started making more money in less time because of the tools that she was using in the time she had found.

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In Copenhagen as I write this, President Barack H. Obama is readying himself to sign away U.S. sovereignty and our freedoms away in this sweeping and dangerous global legislation. First and foremost, americans judge their wealth by what they earn in their job, and the dollar-based assets they possess. Or are paying off from the credit extended to them at loan shark rates.

Quick Poll: Do You Believe Global Warming Is A Fraud? Yes OR No Answer The Survey To Win A Free Gift Card

Reason #1

The Climate Treaty at Copenhagen will mean that between 2013 and 2020, american businesses are required to reduce their carbon emissions by 20%. However undeveloped nations will not be required to make any cuts at all. So the United States is being completely de-industrialized in the name of fraudulent science. IE the so-called “Climate Gate” controversy.

Just use a search engine and type in “Climate Gate.” You will find many sources that go into detail the emails going between UN scientists, and scientist heads’ of other nations. All these emails basically say, is that they will do anything necessary to perpetuate the lie of global warming. Al Gore you will see has been pushing the cap and trade system.

Reason #2

The government will now be enabled to enter into private homes and businesses without any bother of a warrant. They might as well own your home – Not YOU! Because you understand that Barack Obama is as this article is written, declaring carbon dioxide as a deadly poison? Yes he is! That means every home in america will be subject to home inspections by government authorities.

The Copenhagen Treaty is just one piece of highly objectionable legislation. Then there is the health care bill being hammered into proper form. Under this sick crap, we now will be forced into buying health insurance. If you don’t buy insurance, then you get a $2,000 fine! Of course the health insurance companies have no liabilities any more under the bill. This will mean dramatically reduced care, especially for those above age 60.

Eugenics in action!

We as citizens of the world, need to vehemently oppose the Copenhagen Treaty Climate lie. All this means is that the middle class will be wiped out by massive tax increases. And the government will get bigger on top of the already quadrupling of the size of government by Barack’y-Boy!

People in poorer nations are being assured that they will receive compensation from the developed countries. Fools! This ‘compensation’ will be multi-billion dollar loans, at 30% interest rates that these countries can never repay. Thus opening the door to huge multi-national corporations who will now be setting policy. This has been happening already for decades.

Gordon Brown, Barack H. Obama, Angela Merkel, Maurice Strong, look them up and see for yourself that they are all alarmists trying to further their agenda because their friends just so happen to work for Goldman Sachs or whoever the corporation may be in the respective country.

Anyone seeking to learn more about the Copenhagen Treaty Climate Summit, the health care bill, the hate crimes bill, or honestly anything to do with government should visit Alex Jones’ infowars.com website. He and Gerald Celente, Bob Chapman, Lord Christopher Monckton, and Genesis Communications Network owner Ted Anderson.

The government hates truth seekers, and truth tellers. If you truly want an honest assessment of the Climate Summit, the Climate Gate scandal, or maybe you just want to hear Alex Jones’ rants which he does very well. Regardless, it is very educational no matter where you are from. And be sure to watch “Fall of the Republic” on youtube. Get educated, learn who really deserves the blame for your soon-to-be poverty-stricken misfortune.

 

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Change Your Life with an FHA Home Loan

If you are a Florida first-time home buyer or have bought a Florida home before and have less than perfect credit you have come to the right place. At http://www.FHAmortgageFHALoan.com our FHA mortgage Loan Specialists will take you through the FHA home loan process step-by-step.

With an FHA mortgage Loan you can:

FHA Loans are guaranteed loans, which means that FHA mortgage lenders will offer you lower, more affordable rates. Even if you have less than perfect credit or are a Florida first time home buyer, an FHA Loan can help you save money on the Florida home of your dreams.

FHA mortgage Florida , FHA loan Florida

  Minimal Down Payment and Closing Costs.

Easier Credit Qualifying Guidelines such as:

Higher Debt Ratio’s than other home loan programs.

APPLY NOW AT http:/www.fhamortgagefhaloan.com/

At one point and time many years ago, the FHA loan was the only alternative to local  bank financing for Florida home buyers. In the fashion world, there is a saying: Wait long enough, and everything comes back into style. That rule applies just as well to Florida FHA mortgage program. Long-overlooked, the FHA home loan is becoming popular again with Florida Home Buyers for its low rates and the real security it provides Florida mortgage applicants.

For Florida banks and other mortgage lenders, FHA mortgage loan financing offers the security of a government insured Mortgage. Win/Win! To learn more, call today at 1-800-570-0448 or just use our fast and easy quick application!

Easy Qualification – The FHA mortgage insures lenders against loss for loans made to properly qualified FHA home loan borrowers. So you’re likely to find FHA loan with terms that make it easier for you to qualify.

Minimal Downpayment Requirements – FHA loans can work with as little as 3.5% down and those funds can come from a family member, charity, or your employer. Although the FHA loan does not have a zero down mortgage option yet, you will find that your 1st Continental Mortgage loan officer can point you to many Downpayment assistance programs that work well with Florida FHA home loans.

Less than A-1 Credit is Okay – The Florida FHA mortgage program exists to expand the pool of home buyers. Even borrowers with prior bankruptcies or mortgage lates get approved every day for FHA mortgages to buy or Refinance homes in Hillsborough County or any of the other Florida counties we serve. The FHA loan program uses credit quality, not credit score!

Lower Cost Over the Life of the Loan – The Florida FHA mortgage rates are extraordinarily competitive. FHA’s lower risk to the lender means a better rate for the borrower.

Safeguards for FHA Mortgage applicants Who Get Behind – The Florida FHA  mortgages also allow the lender more options in helping borrowers who fall behind keep their homes are get current again: special forbearance, workouts, even free mortgage counseling. Further, HUD can allow the FHA Mortgage lender to take past due payments and move them to the end of the loan and in some instance will actually pay your past due payments for you. Options to save your home you’ll never get from a conventional loan! In an uncertain world, this is another excellent reason for you to get an FHA home loan.

Manufactured Housing – Under certain conditions, you can even finance a Mobile Home or manufactured home using a Florida FHA home loan. Call 1-800-570-0448 to get pre-approved for a Florida FHA loan for manufactured housing or just use our quick application to learn more!

FHA Mortgages Are Fully Assumable – When you are ready to sell your Florida home, you can offer buyers FHA financing! All FHA loans can be assumed by qualified buyers.

These are just seven of the many good reasons to apply for an FHA mortgage. Call 1-800-570-0448 to speak with a friendly Florida FHA loan specialist now!

The FHA program has evolved since it started in 1934 and now has options for HUD insured loans that fit a variety of different borrowers and situations.

Although Florida FHA home loans require additional paperwork, the reality is that applying for an FHA mortgage loan in Florida is not much different from applying for conventional financing. In fact, for many borrowers the small amount of extra time turns out to be an exceptional mortgage bargain because they save thousands of dollars over the life of their Florida Mortgage.

At 1st Continental Mortgage, we have been working with the FHA program for many years. We’re experts at assembling the proper paperwork and presenting your loan application to FHA approved lenders diligently and professionally. It’s one of the ways that we have earned our reputation for closing FHA home loans in Florida on-time.

You may be surprised at how flexible sellers are in the current market and how many programs there are that provide Downpayment assistance to applicants for FHA financing to purchase Florida homes, condos, and townhouses. The fact is, seller can pay up to 6% towards your closing costs. This means, no closing costs for you when negotiated during the purchase contract!

The FHA program offers excellent fixed rate options and never a prepayment penalty. If other mortgage lenders are quoting you subprime rates, you owe it to yourself to make the call to 1st Continental Mortgage to compare the costs of getting an FHA home loan for your home purchase. Call 1-800-570-0448 to speak with an FHA mortgage expert before accepting any conventional mortgage quote as the best you can do!

An FHA streamline refinance is one of the easiest home loans for Mortgage Lenders and borrowers. Since HUD approved you for the original FHA loan, the paperwork to refinance is minimal and the process is simple.

So long as you have made your FL FHA loan mortgage payments on time for the previous 12 months, you can lower your monthly payment if interest rates go down with minimal out of pocket expense. Even if you have been late on your FHA mortgage, you might still qualify for an FHA streamline refinance in Florida under very specific conditions.

Less documentation and no appraisal are just two of the reasons a FHA streamline refinance is cheaper and faster for the borrowers who qualify.

When your 1st Continental Mortgage lender helps you get a streamlined FHA refinance on your existing mortgage loan, he or she will make certain that you meet these conditions:

Although a streamline refinance does not allow you to cash out equity, we have a FHA loan refinance program that is specifically designed for borrowers who want to cash out equity to consolidate debts, make home improvements or to access funds for other purposes.

Unlike many conventional loan programs, the FHA mortgage does not adjust the rate based upon loan to value or credit score. You will find the FHA has very reasonable underwriting guidelines for cash out refinancing.

We have helped many clients borrow up to 85% of the appraised value of their homes and use the funds to consolidate debts or to make home improvements and other purposes. Qualified borrowers will have to look hard to find lower rates and better terms than they can get on Florida FHA cash out refinance right now!

Call 1st Continental Mortgage today at 1-800-570-0448 or use our quick application to apply for an FHA refinance on your home in Sumter County or any of the other Florida counties we offer FHA mortgages in.

Although some conventional lenders in Florida shy away from making a loan on Mobile Homes or manufactured homes, many FHA mortgage loan lenders do not.

In fact, mobile homeowners fortunate enough to connect with a Florida FHA mortgage lender, who is well schooled in how FHA loans work for mobiles and manufactured homes, can get a better interest rate, better terms, and a lower monthly payment by going FHA in nearly every case.

If you’re s
hopping for financing to buy a mobile or manufactured home on land in Sumter County or any of the other 66 counties in Florida that we serve, call 1-800-570-0448 and let us give you a quote for an FHA mortgage loan to purchase your mobile or manufactured home.

It only takes a few minutes to get an FHA loan mortgage quote on your Florida mobile home. We’ll wager that the savings on your monthly mortgage payments will make it some of the highest paid work you’ve ever done.

Few people realize that the FHA mortgage loan uses the same underwriting criteria for single and double wide mobile homes and manufactured housing as it does for traditional site built block or stick homes. In addition, FHA is one of the very few programs that can offer up to 97% financing on mobile homes on land. In addition, did you know that the seller can contribute up 6% toward your closing costs on an FHA mobile home loan and that down payment assistance can be used in Florida? It’s true! You could package your mobile home financing to create a real no money down loan with unbelievably low rates.

Call 1-800-570-0448 or use our secure online quick application for a free no obligation quote on financing your manufactured or mobile home using an FHA mortgage loan.

The Department of Housing and Urban Development (HUD) sets forth these guidelines for determining if a mobile or manufactured home qualifies for an FHA mortgage loan in Florida:

If you would like to determine if your mobile or manufactured home meets the guidelines for section 184 financing from FHA, call one of our Florida mortgage pros at 1-800-570-0448. We’ll be glad to help you determine if the property that you are interested in can be used as collateral for an FHA mobile home mortgage.

The FHA 203k loan program is nothing more than a specialized FHA home loan designed to help homeowners make home improvements. It is especially popular in neighborhoods with properties in need of rehabilitation.

The FHA 203k loans work in Florida communities in much the same way as Construction loans for home improvement. Eligible borrowers can use the proceeds from these FHA mortgage to renovate and improve their primary residences.

Qualifying for a 203k FHA mortgage uses the same guidelines as a standard FHA mortgage for the purchase of a Florida home.

This specialized FHA mortgage is for Floridians who wish to buy a home that needs repairs or renovations. Just as is the case with a conventional construction loan, a single FHA 203k loan covers both purchase of the Florida real estate and renovation. FHA 203K financing can be used to purchase a property on a site and move it to a new foundation on the mortgaged property and rehabilitate it.

In addition, Florida homeowners can also use a 203k FHA mortgage to refinance existing debt when they finance one or more home improvements using the FHA 203k mortgage program.

Many borrowers are finding out what a good deal a Florida FHA home loan really is. Call 1-800-570-0448 today or simply use our quick application to find out more!

 

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