House raising
House raising (house lifting, house jacking, barn jacking, building jacking) is the process of separating a building from its foundation and temporarily raising it with hydraulic screw jacks. The process is the first step in structure relocation in which the building is moved to a different location. House raising may also be a part of a renovation to build a foundation under an existing house or make a house larger by building a new floor level creating a two story house. Often employed in areas that are prone to flooding and storm damage, this process can be achieved through the use of either timber piles or helical piles. Once a house is raised and supported on cribbing, a new foundation can be constructed beneath it. After Hurricane Katrina and Hurricane Sandy large numbers of houses in parts of Louisiana, New York and New Jersey were raised to avoid future flooding.
Construction loan
A construction loan (also called a home construction loan in the United States and self-build mortgage in the United Kingdom) is any value added loan where the proceeds are used to finance construction of some kind. In the United States Financial Services industry, however, a construction loan is a more specific type of loan, designed for construction and containing features such as interest reserves, where repayment ability may be based on something that can only occur when the project is built. Thus, the defining features of these loans are special monitoring and guidelines above normal loan guidelines to ensure that the project is completed so that repayment can begin to take place.