Posted by qstaff on August 13, 2003 at 23:55:52:
FHA is very strict about 90 days and there are historical reasons having to do with corruption that they have these rules. You could send your buyers to a mortgage broker, but frankly they have no reason to go. FHA is a headache for you, but no doubt offers them the lowest interest with the least downpayment and is the most forgiving in terms of whatever may ail their credit. Have they sent over their FHA appraiser yet? At any rate, if you are under contract with these folks for any length of time you have no choice but to wait it out. You could rent them the place until it closes and yes you could try and cajole them into another type of loan but anybody who has a chance to get an FHA, gets an FHA.