Asked by Shamesedge, Manhattan, MT
Mon Feb 24, 2014
We were pre-approved through our credit union to purchase a home. We found a HUD foreclosure and placed a bid. Our bid was accepted. We have paid our earnest $ and signed contract.There is an issue with the plumbing so the water cannot be turned on for our bank to have the appraisal done or for us to have a private inspection done. Our bank will not lend on a house that does not have running water and HUD will not repair nor let us repair prior to closing. We will not move in until after the plumbing is repaired but we cannot even get a loan for the house. We do not qualify for FHA because my husband has not been at his current job for 2 years. He is currently at a year . I have contacted the asset management company, HUD and the listing broker and have gotten the same run around. Realtor is as frustrated as we are. We really want to buy the house but can't due to what is a $200 issue at most! The previous bidders back out for the same issue.