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FHA Lenders conditions get ridiculous!

By George Sanchez

Real Estate Agent with California Housing Realty

September 25, 2008 02:24 PM

Just recently we received the following conditions in order to get loan approval:

Mandatory fixes:

2 Year Roof Certification, Stucco wall needs fixing. Master bath toilet must function, Slider in family room must operate, Bedroom outlet cover needed, Garbage disposal outlet cover needed, Cracked glass in bedroom, Exposed wiring to rear of subject/cover plate missing, Lean out unclogged.

I can understand some items but to say you are not going to give a loan because the master bathroom toilet handle is broken....give me a break. Please share some of your stories. If you have an FHA Lender that is not like this, then please let me know who it is and I will consider taking my deals there.

Cheers.

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Anonymous

Denise

We are trying to buy a house right now through FHA and i can tell you it is the most ridiculous thing i have ever had to deal with in my life.. We signed on this house in Jan. and we still have not closed on the house. They are slow and every time we think we are going to closing on the house they pull something else out of the bag.. We was supposed to close in the 22nd of this month and we just found out that the house needed smoke detectors.. We did the appraisle on the house months ago.

Evey month they have to have bank statement faxed with the Current balance showing the amount needed for closing in the account and make sure it shows the name of the bank somewhere on the statement.. FHA is ran just like our country... SCREWED UP AND BACKWARDS....

ps.. my husband served his time in the military for 8 years during desert storm and he was refused a VA Loan. This is why we had to go FHA...

Jul 26, 2011 09:40 AM

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