Tools

Ask a Question
Start a Discussion
Close
Create an Email Alert

Alerts are a great way for you to stay up-to-date on things you care about. We will email you a list of the new items that match your criteria at a time of your choosing.

This alert is for the following:

Topic:
lender problems with 203k program

How often would you like the alert emailed?

Frequency:

Immediately Daily Weekly
Maximum 20 emails/day

Save

Cancel E-mail alerts
RSS
Send to del.icio.us
Send to StumbleUpon
Print page

Partner Tools

Views: 286
US
Georgia
Nearby States
- Alabama
- Alaska
- American Samoa
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Florida
- Georgia
- Guam
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Northern Mariana Islands
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Puerto Rico
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virgin Islands
- Virginia
- Washington
- Washington D.C.
- West Virginia
- Wisconsin
- Wyoming
Don't see it?

Find:
Columbus
Nearby Cities
- Beallwood
- Camp Rogers
Don't see it?

Find:
ZIP Code
Nearby ZIP Codes
- 31820
- 31829
- 31901
- 31902
- 31903
- 31904
- 31906
- 31907
- 31908
- 31909
- 31914
- 31917
- 31993
- 31997
- 31998
- 31999
Don't see it?

Find:

lender problems with 203k program

Contributions: 1

Q&A

:1

Purchasing an unfinished foreclosure home with 203k program to finish the house. 2 weeks away from closing and now lender demands warranty. There is no warranty, purchasing as is. The builder is no longer in business and didn't even finish the home, why would he warranty it. Any suggestions???

Flag content

July 03 - Columbus

RSS

Answers (3)

Alma Kee, "Alma Rose Kee"
Contributions: 49

Alma Kee, "Alma Rose Kee"

Real Estate Agent

View my 1 listings

Contributions: 49

Q&A

:36
Disc

:4
Photos

:9

Zillow All-Star

Since August 2009

View full profile

If the "builder" is doing the construction to complete the home, they may have to offer you a warranty on the work they perform or go with another contractor to complete the house. Sounds like a reasonable request from the lender.

Flag content

August 09

FriendshipProperties
Contributions: 641

FriendshipProperties

Real Estate Agent

View my 11 listings

Contributions: 641

Q&A

:228
Disc

:40
Photos

:373

Zillow All-Star

Since April 2009

View full profile

That doesn't make much sense. Make sure your both referring to the same type of warranty.

Flag content

July 04

Myke Triebold, GRI, CNAS, "myketriebold"
Contributions: 174

Myke Triebold, GRI, CNAS, "myketriebold"

Real Estate Agent

View my 13 listings

Contributions: 174

Q&A

:7
Disc

:3
Photos

:164

View full profile

Clarify with your lender exactly what they want. It is difficult to navigate the 203K loan, with very few lenders doing it--remember, they are taking a chance on this home having the value--the value of their loan is dependent on guaranteeing that the work outlined in your contract with a home improvement company is fulfilled. The builder will not warrant, but you might get a home warranty through AHS (american home shield) or old republic home warranty--look them up on the internet and learn more about their coverage. Ultimately, you must fulfill the requirements the bank sets out for you if you want to borrow their money. Or find who else does 203K loans in your area--in our area there are only 2.

Flag content

July 04

Have a question? Ask it here.

Most Active Columbus Real Estate Agents

Keith and Mary Williams

6 listings

Local Expert
Travis Chambers

18 listings

Local Expert
Lynda Worthington

9 listings

Local Expert
Baker Whitten

5 listings

Local Expert
Guerry Clegg

4 listings

Local Expert

See more Columbus real estate agents

Question Is it possible to pay cash to agent handling foreclosure at their list price and skip the bank?

Latest answer by jkonstant
August 09

In Buying Foreclosures
3 Answers - 178 Views

Question lender problems with 203k program

Latest answer by Alma Kee
August 09

In Buying Foreclosures
3 Answers - 286 Views

See More

Guide Bank Foreclosures versus FSBOs

In Buying Foreclosures
Edited November 24 2008

Guide Things to know when buying a foreclosed property

In Buying Foreclosures
Edited November 12 2008

Guide Foreclosure Primer

In Buying Foreclosures
Edited October 23 2008

Guide Foreclosure Overview

In Buying Foreclosures
Edited October 23 2008

Guide Foreclosure Eviction Techniques

In Buying Foreclosures
Edited October 23 2008

See more articles about Buying Foreclosures

Current Mortgage Rates

Current Last Week

30 Year Fixed

15 Year Fixed

5/1 ARM

Get this widget

<div style="width:298px;height:123px;border:1px solid #adcfff;overflow:hidden;text-align:center;font-family:verdana,arial,sans-serif;font-size:8pt;line-height:13x;background-color:#eff3ff;letter-spacing:0;text-transform:none;">
		<div style="margin: 0 6px;">
			<div style="margin-top:6px;">
				<a href="http://www.zillow.com/Mortgage_Rates/#{scid=mor-wid-lthd}" target="_blank" style="font-size:9pt;color:#36b;text-decoration:none;font-weight:bold;">
				   
						Current
				   
				         
				   Mortgage Rates</a>
			</div>   
			
			<div style="color:#555;margin:5px 0 1px;">
				<span style="padding-left:137px;">Current</span>
				<span style="padding-left:23px;">Last Week</span>
			</div>

<div style="background:#fff;height:60px;width:284px;border:1px solid #adcfff;text-align:left;">
				<div style="width:146px;float:left;">
					<div style="height:20px;background-color:#fff;">
						<div style="padding:3px 0 0 4px;"><a href="http://www.zillow.com/30_Year_Fixed_Mortgage_Rates/#{scid=mor-wid-ltt1}" target="_blank" style="text-decoration:underline;color:#36b;">30 Year Fixed</a></div>
					</div>
					<div style="height:20px;background-color:#eff7ff;">
						<div style="padding:3px 0 0 4px;"><a href="http://www.zillow.com/15_Year_Fixed_Mortgage_Rates/#{scid=mor-wid-ltt2}" target="_blank" style="text-decoration:underline;color:#36b;">15 Year Fixed</a></div>
					</div>
					<div style="height:20px;background-color:#fff;">
						<div style="padding:3px 0 0 4px;"><a href="http://www.zillow.com/5-1_ARM_Mortgage_Rates/#{scid=mor-wid-ltt3}" target="_blank" style="text-decoration:underline;color:#36b;">5/1 ARM</a></div>
					</div>
				</div>
					
				<iframe title="Current Mortgage Rates" frameborder="0" height="60" scrolling="no" width="138" src="/mortgage/MortgageRateTableWidget.htm?wide=1&region=102001">
						Your browser doesn't support frames.  Visit 
					<a href="http://www.zillow.com/mortgage/" target="_blank" style="text-decoration:none; font-size:9pt; font-weight:bold;">Zillow Mortgage Marketplace</a> 
					to see this content.
				</iframe>
				<div style="clear:both;"></div>
			</div>
			
			<div style="margin:4px 6px 0;height:15px;width:276px;">
				<a href="http://www.zillow.com/mortgage/#{scid=mor-wid-ltgr}" target="_blank" title="Zillow Mortgage Marketplace" style="display:block;margin-left:4px;height:15px;width:145px;float:left;"><img src="/static/images/zillow-mortgage-logo-small.gif" alt="Mortgages, Home Loans, and Mortgage Quotes at Zillow Mortgage Marketplace" style="border:none;"/></a>
				   
				<a href="http://www.zillow.com/webtools/widgets/MortgageRateWidget.htm#{scid=mor-wid-ltget}" target="_blank" style="font-size:7pt;color:gray;text-decoration:none;float:right;margin:1px 5px 0 0;width:80px;">Get this widget</a>
			</div>
		</div>
	</div>

Need a Mortgage?

Zillow Mortgage Marketplace

Competitive rates
Accurate, custom quotes
Thousands of lenders

... and, it's free and anonymous

Learn about Zillow Mortgage Marketplace

Zillow Poll:

Suggested by Roberto Ribas

Do you take polls on Zillow?

Yes, I always take them.

Sometimes I take them.

Next poll
Suggest a poll

Be A Good Neighbor

Zillow® Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy

Tools

Create an Email Alert

This alert is for the following:

How often would you like the alert emailed?

Partner Tools

Nearby States

Nearby Cities

Nearby ZIP Codes

lender problems with 203k program

Contributions: 1

Main Image

Answers (3)

Real Estate Agent

Contributions: 49

Zillow All-Star

Real Estate Agent

Contributions: 641

Zillow All-Star

Real Estate Agent

Contributions: 174

Have a question? Ask it here.

Most Active Columbus Real Estate Agents

Related Questions

Question Is it possible to pay cash to agent handling foreclosure at their list price and skip the bank?

Question lender problems with 203k program

Related Articles about Buying Foreclosures

Guide Bank Foreclosures versus FSBOs

Guide Things to know when buying a foreclosed property

Guide Foreclosure Primer

Guide Foreclosure Overview

Guide Foreclosure Eviction Techniques

Need a Mortgage?

Get instant mortgage quotes

Be A Good Neighbor