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Real Estate
Reply to "VA Loan from a Seller's viewpoint"
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[quote=Anonymous]In the lender's "notice of action taken," the lender checked off the following reasons for terminating the loan application: 1. Income insufficient for amount of credit requested 2. Other-unable to meet VA residual income 3. Withdrawn by applicant I thought #3 was odd but figured it was standard procedure and translated to the buyer was not going to continue trying to meet the requirements (via juggling things like credit card debt or vehicle financing). But my realtor noticed #3 above too and thought it a bit strange. Alternatively my realtor wonders whether the lender missed the $40 monthly HOA fee early on and will not admit its mistake. Any thoughts? I am trying to learn for the future. I think it would have taken some threats of legal action to get the buyer to give up his earnest money here (as a deterrent to bad faith conduct), and I would not want to go through the latter or have my reputation suffer in what was probably a lose-lose situation.[/quote]
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