Hi Janet,
In my opinion, you will have to first repair the property and then go for a refinance. The lender may not refinance the loan if the property is kept un-repaired. Moreover, the appraised value of the property will also be low in that case. As you have already applied for insurance, I think you should first repair the property from the money you receive from the insurance and then refinance it.
Thanks
In my opinion, you will have to first repair the property and then go for a refinance. The lender may not refinance the loan if the property is kept un-repaired. Moreover, the appraised value of the property will also be low in that case. As you have already applied for insurance, I think you should first repair the property from the money you receive from the insurance and then refinance it.
Thanks
inasmuch as it wasn't your unit, janet, i don't think you'd run into a problem with refinancing. i think jameshogg misunderstood your question and the statement about the tree.
appraised value is clearly based on comparable sales, not on existing trees on roofs of adjacent units.
appraised value is clearly based on comparable sales, not on existing trees on roofs of adjacent units.
I dont see any issues either. In addition, the damage should be covered by the insurance policy held by your condo association. Start the refinance process and by the time an appraiser gets over there, the roof may already be repaired.
