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ohdan

join:2008-11-10
Adelanto, CA
Reviews:
·Charter
·Verizon FiOS
reply to brian

Re: Independent Mortgage Review and the GAO

Everything for us was going well until FHA "under appraised" the house. The owner still approved the appraised price; we're now waiting for the bank's approval. We've been told that closing will be this month - I'm cautiously optimistic. The seller is highly motivated but it's in the bank's hands now. Rumor has it that Bank of America's turnaround is one of the quickest in the biz. Our bank (Provident) has been on the ball as well.

What may have worked to our advantage is being the first bidders and using FHA. That FHA appraisal sticks to the home for 3-6 mos.

I hope it ends soon. It has been a lot of "hurry, hurry, hurry ... wait!"



brian
Premium
join:2002-05-02
Lake Forest, CA

said by ohdan See Profile

It has been a lot of "hurry, hurry, hurry ... wait!"

ain't that the truth!

Supposedly GMAC has a pretty good turnaround as well. I think it helps our buyer is paying with cash too.
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ohdan

join:2008-11-10
Adelanto, CA

1 recommendation

The banks reached a deal. I just need to make a few repairs and then it's off to close.



brian
Premium
join:2002-05-02
Lake Forest, CA

1 recommendation

congrats!



ohdan

join:2008-11-10
Adelanto, CA
Reviews:
·Charter
·Verizon FiOS

Thanks, brian See Profile and TheRul See Profile. I'll likely be making the minor repairs tomorrow and FHA will sign off by the end of the week. It seems like it has been a long time coming. My mortgage will be about half of my rent. Awesome.