Timeline for Can I get a home equity loan on a fixer?
Current License: CC BY-SA 4.0
9 events
| when toggle format | what | by | license | comment | |
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| Apr 9, 2021 at 15:12 | comment | added | TTT | Of course, that doesn't mean a bank will write a mortgage. Many may just not want to deal with it. ;) | |
| Apr 9, 2021 at 14:51 | comment | added | TTT | The question states that the home appraises for X. Regardless of the structural defect, if the home has value and can be sold, the bank's underwriting decision can be justified. If the structural defect makes the home literally unsellable, then the appraisal should come back at $0, or even negative! (Negative appraisals are possible.) | |
| Apr 8, 2021 at 15:59 | comment | added | jamesqf | @Manziel: Those are UK standards. Other places differ, e.g. in the US wood frame is standard construction, it's unusual to build homes on leased land, mortgages on just land (that is, nothing built on it) are fairly common... | |
| Apr 8, 2021 at 9:49 | comment | added | Manziel | While most of the restrictions make kind of sense, some seem excessively picky like non-standard construction (wood is also a standard construction method) or leases less than 70 years. And mortgageable is not a binary scale, it is a continuum. If the bank estimates that they will get their money back, they will mortgage it, albeit at a lower value | |
| S Apr 8, 2021 at 9:31 | history | suggested | Naktibalda | CC BY-SA 4.0 |
Reformatted code section as quote, because it is quote and it was difficult to read unwrapped.
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| Apr 8, 2021 at 6:34 | review | Suggested edits | |||
| S Apr 8, 2021 at 9:31 | |||||
| Apr 8, 2021 at 6:09 | review | Low quality posts | |||
| Apr 8, 2021 at 7:33 | |||||
| Apr 8, 2021 at 6:01 | history | edited | WestCoastProjects | CC BY-SA 4.0 |
added 30 characters in body
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| Apr 8, 2021 at 5:51 | history | answered | WestCoastProjects | CC BY-SA 4.0 |