According to Hawaii Home + Remodeling, there has been a rise in homeowners remodeling their homes to adapt to circumstances of multi-generational family living. According to the article, Hawaii has the highest percentage of multigenerational households, with 1 in 5 adults (ages 25-34 or 65+) living in a multi-gen household.*
At Finance Factors, we understand that some homeowners may choose a wet bar feature plus refrigerator option in lieu of a full kitchen to accommodate more than one family living in a property. Since it is common for three or more generations to live under the same roof, we see a lot of loans with wet bar units. However, sometimes these wet bar living units transform into full kitchens and the interior access between the units disappears! Now your loan has stalled and is facing imminent demise.
Don’t fret! If you are in the middle of a refinance or purchase and are facing this problem, call the EMT (Emergency Mortgage Team) at Finance Factors to help revive your loan. You can be the hero to your borrower and Realtor, closing the transaction with a little assistance from Finance Factors. And you will be surprised at how fast we can close your loan!
Call me today to get customized financing programs for your clients! We’re here to work with you to create financing solutions that will help you close more loans!
*Boynton, Nicole. “Sharing the Nest.” Hawaii Home + Remodeling Nov. 2012. Hawaii Home + Remodeling Web. 8 Apr. 2013.