Posted on: 27th May, 2009 06:43 pm
I own a home in Oakland, but last August took a promotion up in Sacramento (90 minute commute). I thought i could handle the drive, but now I realize it's way too much. An offer on a house in Sac was accepted, but the underwriter denied it because the relocation time was too great. I didn't see anything about a timeline under the FHA guidelines. I am currently crashing with friends/family as my Oakland home has been rented. Can I appeal this or take it another underwriter?
Ultimately the underwriter can deny it based on his/her own determination because it is their money. You can contact another lender for the loan if they will not work this out. I hope this helps...
First ask underwriter about reason of deny.
then go further step. while discussion you can resolve the issue.
then go further step. while discussion you can resolve the issue.
well i don't think asking the underwriter for a rationale is going to be much help - you already know the reason.
you may indeed want to check with another lender - see if you can get an opinion from an underwriter with a new lender as to how they view a 90 minute commute.
i think you have a decent case for this.
you may indeed want to check with another lender - see if you can get an opinion from an underwriter with a new lender as to how they view a 90 minute commute.
i think you have a decent case for this.
