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What happens if the cost of the rehabilitation increases during the rehabilitation period?

April 26, 2017COST happens increases period rehabilitation

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What happens if the cost of the rehabilitation increases during the rehabilitation period?

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Can the 203(k) mortgage amount be increased to cover the additional expenses? No. This emphasizes the importance of carefully selecting a contractor who will accurately estimate the cost of the improvements and satisfactorily complete the rehabilitation at or below the estimate.