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Old 06-20-2006
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Default anyone gotten a mortgage on a sinkhole property?

Is it possible to get a mortgage on a sinkhole property? Would I need to have to sinkhole reparied first? Any help would be greatly appreciated.
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Old 06-22-2006
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Join Date: May 2003
Posts: 274

This is not possible if the property is unrepaired. No one will lend money on them and it is near impossible to get insurance on them while they are unrepaired. I have heard of a lender that will allow you to purchase a property with the foundation repair money in escrow and demands that the repairs be done within the first 30 days after closing.

If this helps, email me for the details.
Email: sinkholeorg@hotmail.com
Web: http://www.sinkhole.org

Michael Mosher
Champion Foundation Repair
Phone: 813-242-6454
Fax: 813-242-6614
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