Find solution
Can Amscot tell if I have another loan out?

Can a bank tell you to fix a home before a loan is approved or the keys are given to you in the state of CA?

  • can a bank tell you to fix a foreclosed home before a loan is approved or the keys are given to you or the final contracts are signed. My loan officer is saying that the bank is asking me to fix the home I'm buying to fix the floors, the garage, the walls and the pool before the loan is approved or I am allowed to move in. Sounds fishy to me though.

  • Answer:

    Often if a property is not ready for occupancy or deferred in maintenance the lender cannot lend on it and wants it repaired prior to their investors accepting the collateral. If it's a HUD home and you have their approval and you are pre-qualified (meaning after repairs are complete your loan will fund) then you could do so. If it's not a HUD home, and you fix the needed items; then some issue comes up in the loan process and it falls through you have lost the fix up money and time spent, and the current owner has upgrades for free. You either need to convince the seller to get the needed repairs done up front or get a contractor to complete the repairs (with the sellers permission) and an agreement with said contractor to get paid through funding of the loan. There are also hard money lenders which will not require the property fixed -up front. It's just the fees and interest rate may be higher. Good luck!

aniceman... at Yahoo! Answers Visit the source

Was this solution helpful to you?

Other answers

Yes. The home must be habitable before the bank will finance it. I'm not sure what repairs you are talking about, but if the bank has determined that these are safety issues it will ask you to fix them. By the way, you don't have an entitlement to loan money. If you aren't happy with somebody imposing conditions, try spending your own money on the house.

GatorswithGuns

Of course they can. They are protecting themselves from loss if you default. They want the home up to a certain standard before they will loan you money.

Gregory

ARE YOU LOOKING FOR AN ONLINE LOAN LENDER WHO CAN GET YOUR LOAN TRANSFERRED TO YOUR BANK ACCOUNT,THEN WE ARE THE SOLUTION TO YOUR PROBLEM, NO WAHALA LOAN, THE PERSONAL LOAN THAT GIVES YOU THE FREEDOM TO DO AS YOU WISH, Do you need to fix your car,pay school fees,medical bills;get married?the no wahala loan is the solution.We give you the to spend a little more on what you really need,no questions asked, Benefits .No deposits and invoices are required .Fast,simple and convenient .Flexible repayment schedule .Competitive interest rate of just 2% Hurry now and apply now online via [email protected] and get your loan fast and easy.

In regards to your question. My little advice is that you go to a bank in your area to request for the loan, I think that would be a bit easier for you, but let me also recommend you to a loan firm that offers unsecured loans in order to ease your situation, though he is the only one I have tried for now so I don't really know if their interest rate is the lowest. Few months ago when I had a bad credit, a friend of mine introduced me to them, inspite of my bad credit they were able to loan me 25K of which I used to revive my business, I think you too can do the same as well. Tell the CEO is Anne Fost that refers you to him. Regardless of your nationality, I am sure they can be of help to you. Here is their contact information if you wish to contact them. PEAK FINANCIAL FIRM INCORPORATED. EMAIL: [email protected] Good Luck.

Anne Fost

Hello I am Markson White by name, the (CEO) of Markson Finance Company i am a Reputable, Legitimate an accredited money Lender.I give out loans to Individual and companies in need of financial assistance.Do you have a bad credit or are you in need of money to pay bills? You can use this medium to solve all your problems as i render reliable beneficiary assistance and will be glad to offer you a loan at 3% interest rate. Services Rendered include: *Refinance *Home Improvement *Inventor Loans *Auto Loans *Debt Consolidation *Horse Loans *Line of Credit *Second Mortgage *Business Loans *Personal Loans *International Loans Please write back if interested. Upon Response, you'll be mailed a Loan application form to fill. (No social security and no credit check, 100% Guaranteed!) I Look forward permitting me to be of service to you. You can reach us via e-mail;[email protected]

Mr markson White

Hello Everybody, I am Mr.Brown Mclain (C.E.O) Brown Mclain Loan Company,i give out all kinds of loan to all interested individuals and companies,long term and short term loan depending on the clients,our types of loan includes, Marriage Loan. Bill Settlement Loan, House Loan, Education Loan, Business Loan e.t.c, All mails should be sent to [email protected] for your needed loan today,we hope to hear from you so that we can be of help to you.

PETTI MICRO FINANCE INT. (LOAN OFFER AT 5% INTEREST RATE) We offer Loans to individuals, Firms and cooperate bodies at 3% interest rate per annual, The Minimum amount you can borrow is $2,000.00 US Dollars to Maximum of $10.Million. Please, provide the following: 1. Name Of Applicant:....... 2. Age:...................... 3. Location:................. 4. Amount Needed........ 5. Duration:................. 6. Phone Number............. 7. Fax Number............... 8. Address............... 9. Occupation:............... 10.Country:.................... 11.State:........................... 12.City:........................... 13.Post Code:......................... 14.Monthly Payment: You can contact me today if you are interested in getting a loan in this company, contact me for more information about the loan process, process like the loan terms and conditions and how the loan will be transferred to you. I need your urgent response if you are interested. Contact Email:Email:[email protected] Sincerely, Mr.Petti, PETTI FINANCIAL LOAN INVESTEMENT INT.

Frank Petti

Yes.A friend of mine had to have some work done before the bank would let them close.It wasn't even big items.

Song Title?

Related Q & A:

Just Added Q & A:

Find solution

For every problem there is a solution! Proved by Solucija.

  • Got an issue and looking for advice?

  • Ask Solucija to search every corner of the Web for help.

  • Get workable solutions and helpful tips in a moment.

Just ask Solucija about an issue you face and immediately get a list of ready solutions, answers and tips from other Internet users. We always provide the most suitable and complete answer to your question at the top, along with a few good alternatives below.