Friday, August 12, 2011

How can I get two deeded lots on one FHA loan?

I have a ratified contract for two parcels that I was told could go on my FHA loan, but have since learned that HUD will no longer insure a property with an extra lot with a separate tax ID. Has anyone worked through this issue before? A conventional loan is out of the question. Can we have the seller sell use the extra parcel for $1? Can the seller combine the deeds through public hearing somehow? What can be done at a minimal cost to get both lots into this one loan?

No comments:

Post a Comment