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Is a borrower allowed to do the rehabilitation work?

April 26, 2017allowed borrower rehabilitation

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Is a borrower allowed to do the rehabilitation work?

1 Answer

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Where a buyer can demonstrate professional expertise in a given activity, it is allowable. However, the borrower cannot be paid for labor, only materials used. Prior to loan approval, the cost estimate must reflect the cost for a contractor to do the work in the event the borrower is unable.