Official Upside Down on My Mortgage Thread

[Fraze]

Yeah that definitely hurts. The big kick in my face is not only do I bring that to closing but for the house to be appraised I needed to: replace 2 slabs of my driveway, paint the back of my house, and put the sump pump in the crawl.

Why the paint on the house?

Did they give a reason why that was required?

[onionpouch]

The FHA appraiser on his report cited the back of the house as having chipped paint. Why he didn't cite the sides and the front for having the same I have no idea

[Fraze]

The FHA appraiser on his report cited the back of the house as having chipped paint. Why he didn't cite the sides and the front for having the same I have no idea

Lol, the FHA appraisers seemed to have been becoming more lenient lately, but it's great to see some of them still being petty.

[onionpouch]

Lol, the FHA appraisers seemed to have been becoming more lenient lately, but it's great to see some of them still being petty.

Yeah he definitely wasn't lenient with us. He also really didn't want to appraise our house for the selling price ($58,000). Somehow he was talked into it and then he appraised it for $59,000 which we then asked the buyer to pay since we had so many additional things we had to do it. The buyer agreed so that worked out I guess

[Fraze]

Yeah he definitely wasn't lenient with us. He also really didn't want to appraise our house for the selling price ($58,000). Somehow he was talked into it and then he appraised it for $59,000 which we then asked the buyer to pay since we had so many additional things we had to do it. The buyer agreed so that worked out I guess

Yeah, we have been seeing the FHA appraiser raise less exceptions for the homeowner to fix, but instead are appraising at low amounts.

[General283]

I've also heard the chipping paint thing is a big no-no. Not sure why, maybe they just assume it's lead-based and thus are taking those dangers into consideration? Surprised Fraze has never heard of this.

[Fraze]

I've also heard the chipping paint thing is a big no-no. Not sure why, maybe they just assume it's lead-based and thus are taking those dangers into consideration? Surprised Fraze has never heard of this.

Lol, its not that I haven't heard it, its that we are seeing less and less FHA reports come back with things like this.
also, if it were a lead issue, they would include all exterior walls, and I highly doubt that they would recomend painting over it as the solution.

[Fraze]

For a while FHA reports had a ton of petty things in it like pull weeds, sweep driveway, etc.
That's why I'm interested in his experience because it looked like they were starting to change their tune on things like that.

[onionpouch]

Yeah I obviously wasn't happy with the FHA guy that came out. If the house looked terrible I would understand. The chipping was minor, the buyer said she was going to paint it a different color anyway.

[onionpouch]

Finally had a good day in the real estate world. We closed on the house were buying and got word that the appraiser finally passed everything on the house we are selling and we also got the clear to close on this house as well. I'm exhausted, what a process

[Fletch]

had to do a short sale when we left and we're amazed that we were not hit with taxes like we thought...all worked out pretty well...except not being able to buy a home for another year but hey, we were able to write off over $100K, so I'll deal with it.