I have encountered it three times in my career. It can't be closed under the FHA guideline. I also had Cal-Vet call me years ago and had me look at a property in Crockett CA and when they described where it was located, I told the director that we (Cal Vet) can't loan on that property there are High Tension wires on top of the house... The director gave a sigh of relief and said "At least someone was listening to the training". We had to take it back and now we have to finance it.
Mike, thanks for educating me on both types of loans. I never thought about the possibility of a tower falling over and damaging a home. Anything has the potential to fall over or become airborne and damage a home. Most buyers think in terms of the possible health risks of living too close to high tension wires and the negative visual impact of the towers. I'm bookmarking this page, so I can call you with any future questions of these two loans!
Sharon, it is more likely more to have it attacked by some idiot but lightning can bring them down. The nice thing is they are engineered to fall straight down and collapse so they do minimal damage to their surroundings from what I hear.
I have never encountered that situation in almost 40 years.