What does it mean when the FMLS description says, "No Loan"? Does that mean the seller has no mortgage, or?

Asked by Atlfemme, 30066 Fri Jan 25, 2008

that the banks won't give a mortgage to this property? I've seen it in multiple counties; usually under General Features area of the listing. Examples: FMLS ID 3585099; 3586981; 3626179. Any insight would be appreciated!

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Joshua Jarvis, Agent, Duluth, GA
Fri Jan 25, 2008
Not sure which website you are on, but on those listings, there is just no loan information on what type of financing the seller would accept. These are not bank owned properties, in fact one is just a simple resell.

I'm guessing whatever site you visited, it is listing the field that either says, "Owner Financing:NO" or simply says No Loan [information].
Web Reference:  http://www.jrjarvis.com
1 vote
Atlfemme, Home Buyer, 30066
Fri Jan 25, 2008
I see this on Atlantahomeview.com - usually under "general features" and only when it's the FMLS - not the GAMLS - listing. There's quite a few of them spread across every metro county. Just wanted to be sure it didn't mean that the property was ineligible for a mortgage :)
Here's another sample description:
General Features: Exterior: Deck, Fenced; Neighborhood: Cable, No Loan
I appreciate your fast response! Good to know I'm not the only earlybird around here ;)
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