Posted on: 02nd Jul, 2008 06:17 am
Were refinancing, everything was fine, credit score 753, income, appraisail up above 30% equity, GFE for 15 year with good rate. Then they asked for a survey. None had been done when we bought the home. The survey shows the city has easements on 2 sides of our home (corner lot) and one includes part of our home. Lender backed out. These easements were not prior knowledge to us and were not shown on the title insurance. Plus the easements were placed on the home after the house. Can a city place an easement that actually cuts into the actual building? We are stuck with possibly paying higher mortgage now, and not being able to sell or rebuild if something happened. What can we do?
I would talk to the ciuty and if it was there before you bought and not disclosed talk to the title insurance company. You may have a claim
Good Luck
Brian
Good Luck
Brian
Is there a reason why they asked for a survey? Maybe the appraiser notated something on the appraisal...
If your state does not require a survey, then the lender should not ask for one. Sometimes out of state lenders request a survey but the title company will waive the survey. I hope this helps!
