Posted on: 03rd Oct, 2008 10:57 pm
hello My question is, we are building our house, and we are at a point in the ocnstruction process where we had to request more funds to be able to finish the home. The company we are working with American Home Partners has informed us that due to the housing market and our credit scores dropping we may not get permanent financing and we aren't being approved for the addtional funds. She suggested that we sign a deed in leui of the property. What are our financial obligations once that is done since WE are the general contractors, and what affect will this have on our credit report
the ramifications are large - presumably you wish to continue to build your home and move in. i think you're going to need to look around for another lender. i hope for your sake that your scores have not dropped precipitously.
Hi dtskar
Welcome to mortgagefit forum
You say that your creadit score dropping; so i can suggest you to your going to need to look around for another lender. I hope your creadit score not dropped preciquicly
Welcome to mortgagefit forum
You say that your creadit score dropping; so i can suggest you to your going to need to look around for another lender. I hope your creadit score not dropped preciquicly
STOP :(