Well it's Less then (2) weeks before closing.I have a 203b repair on a Hud home FHA Loan.The Process is
coming along.Still waiting for the Appraisal the Bank Requested on June 4th.If The Bank Backs Out of the Deal.Will they Pay the Attorney Fees My Deposit...I don't Understand how the Bank and Hud Work on these Situations.The Escrow amount to fix the Home was under $5,000.House Appraised AS IS for $50,000.I'm Paying $48,000 escrow Included.Is it More then Likely this Loan will Go thru?
Sheri,
I don't quite understand your question. You say that you are waiting on the bank appraisal, but that the house appraised for $50,000??? Your Realtor and Lender are the ones that could answer your question the best. If the house doesn't appraise, the bank will not pay for your fees that you are responsible for. I hope that this helps. It is so hard to sit and wait... hurry up and get everything that the Lender requires... and sit and wait again! I hope that everything goes through and you get your home. Best of luck to you!
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