View Single Post
  #69   Report Post  
Posted to alt.home.repair
Josh[_5_] Josh[_5_] is offline
external usenet poster
 
Posts: 104
Default Ridiculous FHA rules

On Wed, 12 Aug 2009 20:34:33 GMT, (Doug Miller)
wrote:

In article , rile wrote:

the buyers have NOT changed their minds. In fact, they are as
infuriated as we are.


Then what is the problem? You want to proceed with the sale, the buyers want
to proceed with the sale -- why can't the sale proceed? Do the buyers not know
they can waive an inspection contingency?


This isn't the standard buyer's inspection -- the FHA mortgage can't
close without the approved inspection (similar to a conventional
mortgage not being able to close if the appraisal isn't high enough).
The buyers can't waive that (well, they can, but they then need to
find a non-FHA mortgage, which is what it sounds like they're doing)


They are now trying to get a conventional
mortgage even though it will cost more.


Why?