Posted on: 05th Aug, 2010 09:36 am
My wife and I were approved via FHA financing. The house that we built did not appraise where needed. We terminated the contract with the builder and found another home. What is the process now for this. Does the entire process take place again? All docs, underwriting, etc... or will the property simply be appraised and per good appraisal, we proceed? Thank you
Unfortunately, a large portion of the process will be a re-do. With the exception of your credit and income, giving there are no adverse changes made.