We took our house off the market but found out the reltor said it was "temporarily" off the market, so our lender turned us down. Does anyone know of a lender who will help me?
2007-06-21 07:53:35 · 6 answers · asked by LittleMomma 3 in Business & Finance ➔ Renting & Real Estate
It was Countrywide and yes they did check. They are the ones who told us how it was stated in mls and said they would not do the loan.
2007-06-21 08:04:09 · update #1
This does not sound right, since lenders don't generally check a MLS to insure that your house is listed. What went wrong here, and is there more to this story ?
Lenders normally look at a copy of a listing contract for evidence that a house is listed.
Ahhh....I get it now. You were trying to REfinance while the house was on the market. I misunderstood, thinking that you were buying another while trying to sell this one.
Yup, they WILL check in such situations. And lenders are NOT interested in going through all the documentation if you're going to be selling shortly.
Good luck on that one.
2007-06-21 07:57:53 · answer #1 · answered by acermill 7 · 0⤊ 1⤋
It depends on the mortgage company. Countrywide won't let you but others will. If it was temporary, you shouldn't be refinancing. If you are serious about keeping the house, you would be able to refinance. And the other answer was incorrect that lenders wouldn't find out. The appraiser is required to report it and the lender reviews the appraisal.
2007-06-21 08:33:04 · answer #2 · answered by Scott Drescher 2 · 0⤊ 0⤋
Investor guidelines specifically state that a home to be secured cannot have been listed for sale within the last 6 months. Lenders find out about the listing when the appraisal is completed because it is information that the appraiser is required to investigate and report.
(No you can't Marty, not unless your not going conforming conventional in which case you're going to have to give them a much higher rate or get a weasel of an appraiser to commit loan fraud for you). Lova ya dude, but sometimes...
2007-06-21 08:08:41 · answer #3 · answered by mazziatplay 5 · 0⤊ 0⤋
Get on the Telephone: Lenders are afraid to lend funds on a property that
they believe the owner will sell in short order.
That is the only reason the lender turned you down the first time.
2007-06-21 08:06:15 · answer #4 · answered by whatevit 5 · 0⤊ 0⤋
I would need a copy of the de-listing agreement. One day off the market is okay.........
Cash out and/or rate and term........
Lender may also request a letter of explanation of why you now what to refinance.
2007-06-21 13:43:10 · answer #5 · answered by ron d 3 · 0⤊ 0⤋
I am a Realtor and do loans in various states
if you need help with your situation I have banks that can help you. I have 200 banks to lend you money
send me a email if you are interested. I will not waste your
time like some people will .
2007-06-21 16:06:49 · answer #6 · answered by Anonymous · 0⤊ 0⤋