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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Buyer can't get loan due to HOA delinquency rate Posted by Skimmer on June 12, 2009 at 4:43 PM I purchased a condo at trustee sale. I am reselling it and it is in contract now. But even with 40% downpayment, buyer still has difficulty to get loan from bank. Reason? This condo community has a 25% HOA delinquency rate, the bank is hesitating to lend (I think the guideline is no more than 10% delinquency rate). Any one knows which banks will lend for this kind of deals? or what solutions? I don't want to do seller finance. Any one has similar experience lately? Thanks, Skimmer Follow Ups: Re: Buyer can't get loan due to HOA delinquency rate Ben Nicolas 2:05 PM, 01/26/10 (0) Try this exit plan... Rick, the Probate Guy 7:04 AM, 06/17/09 (1) Re: Try this exit plan... Skimmer 8:50 AM, 06/17/09 (0) Non-warrantable condo CC in OC 5:57 PM, 06/12/09 (4) lenders? Skimmer 7:10 PM, 06/12/09 (3) Here's one... CC in OC 7:40 PM, 06/12/09 (2) Two more... CC in OC 8:00 PM, 06/12/09 (1) Thanks CC for sharing. Skimmer 10:19 AM, 06/14/09 (0) Post a Followup: Name : E-Mail : Subject : Comments: : I purchased a condo at trustee sale. I am reselling it and it is in contract now. But even with 40% downpayment, buyer still has difficulty to get loan from bank. Reason? This condo community has a 25% HOA delinquency rate, the bank is hesitating to lend (I think the guideline is no more than 10% delinquency rate). : Any one knows which banks will lend for this kind of deals? or what solutions? I don't want to do seller finance. Any one has similar experience lately? : Thanks, : Skimmer [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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