HELP!!!! - mortgage/zoning problem - Posted by SteveOH

Posted by Ed Garcia on July 06, 2007 at 06:54:34:


Smith didnâ??t even answer your question; he/she just did their advertisement.

The problem you have with your deal is not a lender problem but a problem with the subject property.

My first stop would be the planning department to see if I can either get the zoning changed or get a conditional use permit.

A lender that can consider this deal would be a bank not a mortgage company.

Ed Garcia

HELP!!! - mortgage/zoning problem - Posted by SteveOH

Posted by SteveOH on July 05, 2007 at 18:46:37:

Lender was ready to close until the appraisal came back.
The SFH is zoned for manufacturing. Lender says if property burns, it can’t be rebuilt. Also, the appraiser knocked $15,000 off the appraisal because of the zoning. I was going to pull my cash out and buy another but now my
money’s stuck in the property. Is there a way to get my cash out? Are most lenders going to have a problem with this property? Thanks!