Question Re The FHA 10% Threshold On Repair Costs
I understand the "serious damage" part from flood,earthquake,fire, & tornado. But what if the AS-REPAIRED value (same as ARV I guess) is $80000 & the roof, 6 piers, & cosmetic work come to $9000? Does this kill the ss opportunity bc the work exceeds 10% of ARV? If so, this makes no logical sense. Can anyone enlighten me?
Gene Texas
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