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Old 06-20-2006
rhindo
 
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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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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.
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Michael Mosher
Champion Foundation Repair
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Fax: 813-242-6614
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