FHA loan question
Q: i applied for a fha loan on a house and the house had allready been purchachased buy someone else who used a fha loan and they backed out at closing this all occured in the last six months my loan officer is having a problem he say s he can t get the loan to go threw because it is defaulting back to the first buyers who never actuallt bought the property, he says threw current fha standards it is aproved but when he put s the property in it get s declined …even if he drasticlly changes income…ect…he has 5 calls in to fha and get s no response…we are suppusew to close on the 29 th and he say s the only optio n is go with 5 % down loan and it goes threw …any idea s?
A: I have never heard of this. FHA appraisal’s no longer stay with the property for 6 months like it did in the past. The last people should have nothing to do with them. Is it the same company who did both loans? Maybe they did not issue a withdrawal or denial of the loan.

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