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?
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