I'm not sure what exactly was wrong with that property but as long as the foundation was intact and the structure of the building was sound, it's financable.

I'm a Renovation Specialist (My focus is on rehab lending) with Wells Fargo. This is a complex program and you're going to want someone who specializes in this type of financing.

I've wrote numerous posts on Renovation Financing and have done many loans for Trulia users. Please read some of these past posts I've made. You should be able to find the information you're seeking. Feel free to contact me.

http://www.trulia.com/voices/Financing/I_have_recently_inqui…
http://www.trulia.com/voices/Financing/FHA_K_Rehab_loan_in_G…
http://www.trulia.com/voices/Financing/How_is_the_loan_amoun…
http://www.trulia.com/voices/Foreclosure/Foreclosure_is_bein…

Rob Weber
Wells Fargo
511 W North Ave
Chicago, IL 60611
847.404.7006 - cell
rob.weber@wellsfargo.com