A blighted area refers to a section of a city primarily characterized by deteriorating, dilapidated, or unsafe structures. It often necessitates significant urban renewal and rehabilitation to revitalize and redevelop the area.
The FHA 203(K) program enables homebuyers to finance both the purchase of a house and the cost of its rehabilitation through a single mortgage loan.
Rehabilitation Tax Credit provides a tax incentive for property owners to invest in the preservation of historic and other qualifying buildings.
