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32011 : Real Estate Advice

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Activity 2
Thu Dec 23, 2010
Dallas Texas answered:
No address is listed. Save you time contact a Realtor who can obtain your specifications lender approval amount and forward you properties via MLS.

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
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Mon Aug 25, 2008
James Wheeler answered:
The issue with your comps has nothing to do with the fact that the buyer's mortgage would be FHA-insured. Rules for both government and conventional loans place responsibility for the appraisal squarely with the lender, and lenders have become very cautious when it comes to dated and distant comps. In the current environment, most lenders will reject the appraisal, regardless of the value, and regardless of a secondary review, if there are issues with the comps. If they make exceptions, they run the risk of having to buy the loan back from subsequent purchasers. It is possible, however, to deal with this situation successfully. In fact, I have a closing this week for a purchase where dated and distant comps are the only comps available. I was approached for help 2 weeks ago, after there was trouble due to the appraisal. Feel free to contact me to discuss this further: 813-600-3428 or ... more
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