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refinancing and survey sunk us

This is a topic titled refinancing and survey sunk us made in the Mortgage Talk section, belongs to our Mortgage Chat category; 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 ...








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Old July 3rd, 2008, 07:23 PM   #1
Mike
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Registered: Apr 2008
Posts: 1,497
Default refinancing and survey sunk us

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?
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Old July 14th, 2008, 06:41 AM   #2
lisare
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Registered: Jun 2008
Posts: 11
Default Re: refinancing and survey sunk us


Well….I think if you wait for some more time… you can get a lot better suggestions that this…I am out of any ideas for this!!!!
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