07-10-2012 11:38 AM
I wish I could. That was why I wanted the assistance program. 3.5% + $5k for closing/down pymnt asst..... Even my LO was like it said FHA financing on the letter, why did no one catch it!?
07-10-2012 11:48 AM
Best thing to do would be contact the HOA and find out whats keeping them from FHA. It might be tenant to renter ratio, land lease, funding, maint., or just paper work.
Already put in a call and sent and email. Waiting for a response.....
07-10-2012 12:44 PM
07-10-2012 12:49 PM
07-10-2012 02:20 PM
Sorry to hear that.
Have you looked into Homepath? Not sure what area you are in but in my area we had a bunch of great Homepath properties and so far its been a smooth process.
07-10-2012 03:11 PM
My heart dropped when I read this. So sad to read and empathize with your disappointment
07-10-2012 06:08 PM
Thanks guys. Not all hope is lost. Long story short, we are checking to see what the legal description of the property is- condo or townhome.
Condo, we have to terminate and start looking for something else (which we already are looking at listings).
Townhome, we can proceed!
I say everything happens for a reason, perhaps the day after I closed, the pipes would have burst or something....
07-10-2012 06:09 PM
I am so very sorry. However, I do believe that the universe is out there watching over you - and knew this wasnt the right decision for you. I guarantee you, you will look back and KNOW for a fact that this was the best thing that could have happened. IDK if that is going to be in a month, a year, or ten, but you will see.
Take all you learned during this long process, pull your socks up, after you have given yourself a break, and get back to it when you are ready. I'd think about a new agent. Clearly that person's mistake in my opinion. Or you can have them take your inspection fee out of their commission and give it to you in cash when you DO close, which you will!
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.