virginia home appraisals: Hurricane Irene Delaying Settlements- Re-Inspections & Appraisal Re-Certifications
- 09/03/11 12:13 AM
Points of Interest for You and Your Clients
Hurricane Irene’s after effects on mortgage lending are being felt this week. Lenders are requiring re-certifications on appraisals in FEMA listed areas of higher damage. This means an appraiser must re-inspect the property for condition and soundness. Real estate transactions in affected areas up the east coast are seeing settlement delays as these inspections take place and properties are cleared to close.
FHA and Veterans loans are now priced with sizable lender credits for closing costs. For example, at 4.25%, the lender credit can be over 1%-1.5% of the loan … (2 comments)
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Points of Interest for You and Your Clients
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