Very odd real estate situation--thoughts, please...

[Lisa loves Pooh]

You can still do conventional at 90% so I am not sure exactly. At 90% you would need MI and MI underwriting is much more strict than non -MI files. So perhaps they are still afraid the appraisal would not pass when being underwritten by an MI underwriter?
Do you have any idea what they paid for it, versus what they are selling it for?

No--b/c we can't find record of sale.

Realtor is calling county tomorrow.

Hubby did come across something and found out that the property may be ineligble for PMI like you just posted. He also found that this requirement was waved as of Feb1, but that the 2 appriaisals would be required.

At this point--I just want to know the legitimacy of everything.

Thanks for your help. You pointed us in the right direction.

 

[elgerber]

No--b/c we can't find record of sale.

Realtor is calling county tomorrow.

Hubby did come across something and found out that the property may be ineligble for PMI like you just posted. He also found that this requirement was waved as of Feb1, but that the 2 appriaisals would be required.

At this point--I just want to know the legitimacy of everything.

Thanks for your help. You pointed us in the right direction.

You're welcome. Feel free to PM me if you have any other questions later on, I can try to answer them. Mortgages are a tricky business these days!

 

[The Mystery Machine]

You can still do conventional at 90% so I am not sure exactly. At 90% you would need MI and MI underwriting is much more strict than non -MI files. So perhaps they are still afraid the appraisal would not pass when being underwritten by an MI underwriter?
Do you have any idea what they paid for it, versus what they are selling it for?

That is what I think as well. Be careful OP. Good Luck!