02-24-2009 07:17 AM
02-24-2009 07:21 AM
Good luck! I'll keep my fingers crossed for you.
I am buying a HUD and am just wondering the process. I posted in someone else's thread but no one responded. If the inspections are for the buyers informational purposes, then how does the UW know you needed to treat for termites? I didn't think they got copies of inspections, as you aren't required to have one. Or are you required for FHA? I am going conventional, so maybe I am getting my wires crossed. Just trying to gain some insight.
02-24-2009 07:29 AM - edited 02-24-2009 07:45 AM
02-24-2009 09:21 AM
That's the thing, you are not required to get a home inspection. Not that I would recommend buying a house without one, but it's not required. That's why I am getting so confused about people posting that the underwriters are requiring certain things to be done on the home. Really, really confusing me.
No house is going to be perfect at all, that's why I am asking becuase it makes me nervous and I'm not about to put money into a house I don't own. So, this could be a deal killer for me come inspection time. Though, my realtors husband is a home inspector and he's already been through the house 3 times and says everything looks great except for evidence of a past termite issue as well. He did note that he could see where barrier treatments were already done, but recommeded I do it again when we move in because it's a HUD home and since we don't have contact with the original owners we have no way of knowing how long ago the treatment was done.
I really hope my uw is not as nit picky and I personalyl don't think I should have to provide an inspection report when it's not required to get one in the first place. Hmm, should be interesting to see how it pans out.
Sounds like you have complied with all your uw's nit-picking, I sure hope you can relax soon enough knowing that all conditions have been met and you'll soon be in your new home.
02-24-2009 09:24 AM
02-24-2009 09:34 AM
02-24-2009 09:35 AM
02-24-2009 09:40 AM
Oye! You are not overreacting or paranoid, after ALL that you have been through and everything you have invested I don't think anyone can blame you for wanting peace of mind and just to get the final OKAY! Geez. You poor thing. Hang in there. Hopefully it's almost over!
Who is your lender?
02-24-2009 09:43 AM
02-24-2009 01:22 PM
Oh, wow! That's the same thing I'm going through!!! My home inspector put in that he 'recommends' the home be treated again. Actually, I have no problem with that as I'd rather have it done before I move in, I want to make SURE my home is sound, and while yes---I'm nervous like you....I really, really, want this house!
FHA appraisal was done yesterday but haven't heard anything yet. But---loan guy says that if something had come up he would have heard about it by now. These are all people he works with on a regular basis. Only thing left is final loan commitment. He says I have a strong file and I was pre-approved. Everything on 'my' part has only improved....(scores, cash reserves, and paid off my car).
Only one glitch...have submitted all docs for loan except 2007 W2's. I think I may have thrown them away with another loan packet (this is my 7th contract!!). I emailed loan guy, but haven't heard anything back yet. I so hope he still has them!
It IS all especially unnerving! Breath deeply and find something to keep you busy. That's why I'm here!
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO