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Financing in 78759 : Real Estate Advice

  • All48
  • Local Info2
  • Home Buying25
  • Home Selling5
  • Market Conditions0

Activity 3
Tue Dec 17, 2013
There is a new FHA program that allows to you to finance a home one year out of bankruptcy. You must have lost a job in the last 5 years and the BK must be due to job loss. Give me a call to discuss 972-854-3270. ... more
0 votes 9 answers Share Flag
Wed May 12, 2010
Joan Klausner answered:
Longing for the day when fair market value was determined by what a buyer would offer and what a seller would agree to?? Has over-regulation "over-corrected" for a few lenders who had appraisers in their back pockets? I am frustrated too. I empathized with your situation. I have had both buyers and sellers in this situation of an unexpectedly low appraised value. All you want to do in move forward and you are stuck. Possible solutions? Have you asked to see the comps used by the appraiser? Can your agent provide good comps to support the contract price? If so, would the lender consider ordering a second appraisal (-at your cost) ? Would the underwriter consider a second appraisal if it came in higher? Would a local lender use a different list of (local) appraisers? In short , you can change appraisers, change lenders, or change properties. Very best of luck to you! ... more
2 votes 15 answers Share Flag
Mon Mar 8, 2010
Richard Heath answered:
Hi Kate,

I used to live in 78759. Great neighborhoods.

OK. Rudy from MI is right. FHA appraisels stick with the house. Conventional, you can order (and pay) for another appraisal, but, NOT FHA. So, if the buyer wanted to go conventional, it may work. Also, it sounds like you are the seller, you can pay for this other appraisal. That being said, are there seller concessions involved? That might level the playing field as well.

Richard Heath
... more
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