Home arrow Mortgage Forums arrow Looking for Mortgage again arrow

refinancing and survey sunk us

Author Message
Guest









Post Posted: Wed Jul 02, 2008 6:17 am    Post subject: refinancing and survey sunk us
Like 0
Dislike 0

Were refinancing, everything was fine, credit score 753, income, appraisail up above 30% equity, GFE for 15 year with good rate. Then they asked for a survey. None had been done when we bought the home. The survey shows the city has easements on 2 sides of our home (corner lot) and one includes part of our home. Lender backed out. These easements were not prior knowledge to us and were not shown on the title insurance. Plus the easements were placed on the home after the house. Can a city place an easement that actually cuts into the actual building? We are stuck with possibly paying higher mortgage now, and not being able to sell or rebuild if something happened. What can we do?
Icon Mini Profile larry





Joined: 27 Jun 2007

Posts: 3322

474.67 Dollars($)
Post Posted: Wed Jul 02, 2008 7:01 am    Post subject:
Like 0
Dislike 0

Hi Guest.

welcome to the forum.

Why do you want to refinance the mortgage? Your score is very good. I think you should try to release the easement. You can know about it at http://rgdirections.lands.nsw.gov.au/ADIS/DocumentsLodged/Easements/Ea sementRelease
Icon Mini Profile brian1
brian1
Community Expert
Community Expert

best lender badge

Joined: 14 Jun 2008



Posts: 448
Location: Northern California
15.61 Dollars($)
Post Posted: Wed Jul 02, 2008 11:23 pm    Post subject:
Like 0
Dislike 0

I would talk to the ciuty and if it was there before you bought and not disclosed talk to the title insurance company. You may have a claim
Good Luck
Brian

_________________
Licensed Broker 50 states
http://www.aimwithfocus.com Live Chat available
Need quick advise email or PM Glad to help
Pre-approvals www.applyonlinesecure.com
Icon Mini Profile banker0679

Community Expert
Community Expert

best lender badge

Joined: 15 Nov 2007

Posts: 452
Location: Charlotte, North Carolina
19.27 Dollars($)
Post Posted: Thu Jul 03, 2008 5:52 pm    Post subject:
Like 0
Dislike 0

Is there a reason why they asked for a survey? Maybe the appraiser notated something on the appraisal...
_________________
there's always hope!

"My credit score shot up 68 points!"
Icon Mini Profile stephenie1
stephenie1




Joined: 20 Dec 2007

Posts: 21
Location: Texas
9.45 Dollars($)
Post Posted: Tue Jul 15, 2008 10:18 am    Post subject: Survey
Like 0
Dislike 0

If your state does not require a survey, then the lender should not ask for one. Sometimes out of state lenders request a survey but the title company will waive the survey. I hope this helps!
_________________
Stephenie Marshall
1st Advantage Mortgage

www.1amHomeLoan.com/stephenie
Cell: 214-779-6622
Quick Reply
Your Name
Subject
Image Verification


Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Highlights
Bookmark this page
Share |

Helpful References
Mortgage Guide
Mortgage Terms
Mortgage News
Book Center
Shop and Compare lenders
30 Yr. Fixed Vs. 5/1 ARM


Calculators     [View all]
Are you eligible for loan?
How much you can afford?
Calculate monthly payment
Calculate APR


Financial Tools
Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool


Our Community
MortgageFit Blog
Community Professionals
Community Rewards
Introduce yourself
Website tools


Community Rewards
Five simple ways to earn money with the Mortgage Community.

MortgageFit on Twitter

Followers (265)








Community Chat

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0
Page loaded in 21.094 seconds.