http://www.denhamspringsappraisers.com/ – FHA Appraisers Denham Springs LA 70726 Video

Duration : 0:1:47

Read the rest of this entry »

Technorati Tags: Appraisers, denham, FHA, home, springs

Baton Rouge FHA Appraisers Video Housing Market Update For Old Jefferson Subdivision

Duration : 0:1:46

Read the rest of this entry »

Technorati Tags: Baton, For, homes, housing, News, realtors, Rouge, sale

I’m a first time homebuyer who qualifies for a VA loan but the house I’m trying to buy is a foreclosure so it’s not VA approved so I’m going through the 203k option.

The problem is that I don’t want to finance any of the repairs into the loan since I have the cash to pay for the fixes. The appraiser came out and said the only required repairs were to carpet 2 rooms. The lender is telling me I’m legally obligated to finance that cost into the loan even though I have the cash to fix it immediately. Or can’t I put that cash into an escrow account instead of having the bank lend money to put into an escrow which would just be redundant and unnecessary? Is my lender not being completely honest with me?
I may not have been clear. I want to carpet the entire house but I want to pay with cash. It’s ridiculous to finance carpet into a 30 year loan. What I want to do is put all that money myself into the escrow account to satisfy the banks requirement before closing. What they’re saying is that my cash is no good I have to have them lend me the money for the escrow account. Why can’t I use my own money for the escrow

I am at a loss as to why the lender would refuse your request to place the funds in escrow with the stipulations that the carpet be repaired and signed off on by the appraiser that conducted the original appraiser.

Ask plenty of questions about this mortgage, after all you are the one that will eventually wind up paying for the mortgage you will accept.

I would closely inquire of my loan consultant as to what the difference might be as long as the work is completed and signed off on by a licensed appraiser that is approved by FHA

If they still insist on doing it the way they want you can always buy the loan down once is it closed by the amount of the repairs.

What was your reason for applying for a 203b FHA loan as oppose to a regular FHA mortgage loan?

Of course you might leave your funds in your bank account drawing interest as the mortgage interest you will be paying on the mortgage loan amount will be tax deductible.

I hope this has been of some benefit to you,good luck.

"FIGHT ON"

Bob continues our guide to FHA visual appraisal inspections in the bathroom! A simple check of basic systems can help avoid delays when dealing with FHA.

Duration : 0:1:23

Read the rest of this entry »

Technorati Tags: Bathroom

http://www.bohannonappraisal.com Santa Rosa FHA appraiser, and appraisal services http://www.appraisalmanagementcompanies.org Appraisal Management Companies appraiser, land only loans land only loans land only loan home construction contractors construction loan agreementcommercial land loans va construction loans raw land loans private investor loans construction loan company commercial mortgage loan online commercial loan company commercial bridge loans va construction loan residential construction loan private real estate loan
http://www.youtube.com/watch?v=jmFvnAqweyI owner builder construction loan construction to permanent loan construction loan lenders construction loan lender residential construction loans owner builder construction loans construction loan calculator construction loan broker commercial mortgage company broker commercial loan mortgage bank construction loans bad credit construction loans bad credit construction loan raw land loan private real estate lenders

http://www.youtube.com/watch?v=SO4GiXItlrIland purchase loans land purchase loan how construction loans work gmac commercial mortgage commercial lending rates vacant land loans new construction home loans mortgage construction loans land loan rates home insurance agents home insurance agents construction perm loan commercial mortgage finance commercial construction loans builder construction loans vacant land loan construction permanent loan construction loan interest home construction financing construction loan rate

http://www.lendinguniverse.com construction loan financing private loan texas hard money lenders bridge loans residential private financing private hard money loans hard money commercial subprime mortgage lenders foreclosure loans bridge loans residential private lending money loans hard money definition residential financing foreclosure loans private hard money loans california hard money loan private financing money loans hard money definition hardmoney loans private lender private hard money loans california hard money loan subprime mortgage lenders private loan hard money definition hardmoney loans private lending hard money bridge loans california hard money loan subprime mortgage lenders foreclosure loans

Duration : 0:0:18

Read the rest of this entry »

Technorati Tags: AMC, appraiser, FHA, Santa Rosa

My real estate guy put in a little below asking price for the current house I’m trying for. My mortgage guys FHA appraiser, appraised thousands, below. The sellers real estate person put the price way above value? Who is at fault if I don’t get this house? Do I have any recourse as a buyer?
I am the buyer and, my mortgages FHA appraiser appraised the home extremely lower than the asking price. The sellers asking price was extremely overpriced. My realator after I already put in the offer and, the FHA appraisal came back told me he thought it would come in extremely lower.
With FHA you can only buy the house for what it appraises for by, the FHA appraiser. I am alittle lower income than middle class and, I’ve had my job for years. And, unfortunatly because I am lowing income, all I can go for is FHA! This whole thing is reall starting to depress me!
I am approved up to what we offered but, the house was appraised at a lower value!

Assuming the FHA appraisal is correct based on current comparable sales, look at it this way. The FHA may be protecting you from overpaying for this house. If you overpay for a house, it can take MANY years to catch back up to the point that it values high enough for you to sell it and move if you want.

There’s nothing worse than being stuck with a house that appraises way lower than the amount you have remaining on the mortgage. Talk about being trapped!

I agree with the above answer that you should reduce your offer, based on the appraisal, to what the appraisal said. It makes no difference what the sellers think their property is worth. All you can offer is what the FHA will let you finance, at this point. If you don’t get the house, as I said, it could be a major blessing.

http://www.flintmichiganfhaappraisers.com/ – Flint Michigan Real Estate and FHA Appraisers

Duration : 0:2:42

Read the rest of this entry »

Technorati Tags: fha appraisers, Flint Michigan, home appraisers, Real Estate, real estate appraisers

I am in the middle of buying a house. The sellers are living in a retirement home and their 3 sons along with their lawyer are involved in the sale of this house. I was pre-approved for an FHA mortgage, but also agreed to buy the house "as-is". In order to do this, I have to make all of the repairs required by the FHA appraiser prior to closing (which is totally fine with me). My realtor sent the addendum saying this to the sellers’ attorney and he revised it to say the following.

"Buyer agrees to complete all repairs required by the mortgage company, at her expense, in order to obtain the necessary financing. Buyer further agrees that if the repairs are not completed as required, or not completed to the satisfaction of the mortgage company, the Seller can declare this Agreement null and void and Buyer agrees to forfeit her $5,000 deposit to the Seller."

I don’t full agree with the last sentence because it’s saying that the Seller can walk away and keep my deposit money (which took 6 months to save!!) What do you think of this? My mortgage broker tells me that there is nothing to worry about because the repairs are minor (scraping and painting, caulking around a window, replacing a drop ceiling tile, etc.) and the mortgage company wouldn’t decline the mortgage appliction based solely on the repairs.

My sister bought a home through an FHA loan. The home had all the flooring removed because of the condition. The FHA loan couldn’t be approved without it. Her realtor made an addendum that the work would be done within 30 days AFTER she bought the home. They did come out to make sure that the work was done too. I think I would rather that scenario. But, if they won’t budge, this addendum sounds about right. You aren’t waiting for the seller to approve the repairs, but rather the mortgage lender. I think the other poster was right, you should put a cap on how much money you are shelling out. I would add that if for some reason the seller cancelled the agreement that they would pay you for the money spent.

I have completed every part of the loan process, including the appraisal. The appraiser appraised the home "pending repairs" All of the repairs have been made, and now the bank has ordered a rush re-visit from the appraiser.

She does not answer her phone, and it took us a week to get in touch with her the first time, and our closing date is 2 days from now, so we are guaranteed to not close on time. The bank (BofA) insists that it has to be her, not a new appraiser. The loan is FHA and needs to have an FHA approved appraiser, and apparently local appraisers are backlogged.

My fear is that if the next two days go by and we don’t hear from her, can we lose the earnest money?

Since we had no control over any of this, is there any way to hold the bank responsible for hiring such a total flake? Or the appraiser herself?

Thanks
I am asking because there is a chance that the seller is unwilling to extend the closing date.
AltanK – the earnest money is all I am worried about, yes, that is what I meant.

knowitall is 100 % right but didn’t really answer your question.

Answer: Most contracts state that if the loan is not approved through no fault of the buyers then the earnest money is refunded. Is that what your contract states?

Also many promulgated contracts state the the closing date will be extended up to X days for delays in financing. X is sometimes up to 15 days. What does your contract state?

Other: What do you want to hold the lender or appraiser responsible for? Is it for losing your earnest money? Better read your contract since your contract may state you will hold lender and appraiser harmless in all cases. Reread that other contract you signed with the lender in order to let them start the loan application process.

http://www.ascensionrealestateappraisers.com/ – Ascension Parish Appraiser’s Video Tour of Waterford Lakes Subdivision Located In Prairieville LA 70769

Duration : 0:4:19

Read the rest of this entry »

Technorati Tags: 70769, homes, New Houses, Prairieville La, Real Estate, Waterford Lake