Asked by Csp, Houston, TX • Tue Oct 19, 2010
We recently got a shock when we found out the day before the closing (from title company) that the lender had problem accepting the "60 day letter" lien subordinate stuff from the HOA of the property we are purchasing. So we were refused loan last minute.
Is it common for lender to refuse conventional loan due to the HOA policy on lien subordination? The title company as well as the lender they have recommended me to use told me usually lenders should accept the "60 day letter" and approve the loan. Just wanna get a 2nd opinion here. Thanks!
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