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07-16-2010, 08:31 PM #1
Renter
- Join Date
- Jul 2010
- Posts
- 1
Problem with appraisal and bank loan
I'm asking this to hopefully help a friend who is trying to sell their house. They got their house appraised before going to settlement. The appraisal people somehow screwed up and even though they corrected their mistake, the bank will not give a loan because of the mistake. The bank says the floors and walls need work before they will give a loan. As of right now, they're trying to get some sort of special loan. I don't understand it but the end result is that my friend will not be able to buy a house for 2-3 months and instead will have to rent which is a huge problem. It would be better all around if the bank would just give the loan. Is there a way to get around the mistake the appraisal people made? Even though they fixed it, the bank is acting like they didn't. Is that even legal? What if they just used another bank? Can they do that? I'm sorry I don't have more information, a lot of this stuff goes right over my head. I'm just trying to help my friend who is on the verge of a nervous breakdown.



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