The purchase of
a house that needs repair is often a catch-22 situation, because the bank won't
lend the money to buy the house until the repairs are complete, and the repairs
can't be done until the house has been purchased.
HUD's
203(k) program can help you with this quagmire and allow you to purchase or refinance
a property plus include in the loan the cost of making the repairs and improvements...
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 Question: I have a house heated by electricity. The
ceiling of the basement has the pink insulation, but the vapor barrier
is on the basement side (probably for easy stapling). I always thought
the vapor barrier should be against the heated portion of the house. The
insulation appears to be quite old and compact. It also is missing in
places. The basement gets very damp in the spring, summer and fall, but
I use a dehumidifier. My house always feels cold. I'm sure it is time
to evaluate reinsulating the basement ceiling. Can you make
recommendations for me on the type of insulation I should use? I'm
looking for something that the homeowner can install.
Answer:
For decades, the use of a vapor barrier has been standard operating
procedure when insulating a new home or an addition. However, in some
climates, a vapor barrier may do more harm than good...
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