Advice Needed, Don't Know Where To Turn

[Tru Red]

Start at the beginning. where was the seller's disclosure? And, did YOU sign the seller's disclosure as acceptable????

Agreed. Start with the Seller. In California the Seller signs a TDS - Transfer Disclosure Statement where they are "supposed" to disclose known problems/defects, etc. Did you purchase a home inspection? As a Broker I always suggest the Buyer spend the small amount of money for peace of mind that a home inspection can provide.

 

[glenn walker]

The cheapest and fastest way is to get a new engineering certification normally a few hundred dollars because FHA requires it that file from years ago is in some basement. Once you have the certification apply for your FHA or Fannie Loan and give the appraiser a copy and your lender. As long as you get the cert you should be green to go-Attorneys are very expensive and most know nothing about real estate or engineering certs LOL

 

[Zoner1718]

Getting a new cert would be the way to go, IF the home were ever anchored to the foundation. My findings now are that it was never done to begin with. Ironically my bank held the mortgage with the original homeowners and found the files but no inspection. They followed up with the closing agent but no dice since it was longer than 10 years ago. When I contacted my closing agent they said they don't keep documentation going back that far (it will be 10 years in august). I'm wondering if they are trying to cover up that they didn't have all the needed documentation to begin with in closing the loan. I am in the state of Ohio in case anyone was wondering

 

[Mark K]

I basically have a $130,000 house that is not safe and is worthless at this point.

If you think its worthless, I'll give you $50 for it sight-unseen.

Seriously, take a breath, calm down, and figure out what its going to take to make it mortgage-able. Also, gravity and friction are pretty reliable so absent a tornado, its probably ok to sleep there a few more nights until the problem is resolved. Besides. if a tornado comes, a few welded anchors are just going to slow it down a bit.

It seems your main concern if trying to find someone else to take care of this problem for you, someone to blame. You need to find out exactly what FHA requires, call an engineer to tell you what needs fixed, get it fixed, then refi. Unless you think that spending a lot of time and money on lawyers, depositions, etc. is the best way and in that case, good luck, you'll be fighting this for at least a couple of years and I doubt that you'll be happy with the final results.

 

[Zoner1718]

The cheapest and fastest way is to get a new engineering certification normally a few hundred dollars because FHA requires it that file from years ago is in some basement. Once you have the certification apply for your FHA or Fannie Loan and give the appraiser a copy and your lender. As long as you get the cert you should be green to go-Attorneys are very expensive and most know nothing about real estate or engineering certs LOL

I hear ya on the attorney bit, also why I am trying to learn as much as I can.

 

[Meandering]

Actually,

If you have notified, or FHA is now aware that your home does not meet it's requirements for financing,

The time is ticking very quickly on you.

I don't want to scare you, but if FHA finds that it never should have insured a loan that it currently insures, it will pull the insurance from the lender. The lender is now left with an uninsured mortgage, and will be contacting you to pay it off.

If you, or someone else has notified FHA that the anchor bolts are missing, you need to get those bolts installed ASAP, and notify everyone with photos and certs that it's been done.

.

 

[Zoner1718]

Also wouldn't title insurance be liable to make it right? The home was not represented accurately. Don't they have to correct any discrepancies?

 

[Zoner1718]

It is missing 86 or so welded joints, center (marriage line) support, and possibly an issue with an end wall.

 

[Zoner1718]

Actually,

If you have notified, or FHA is now aware that your home does not meet it's requirements for financing,

The time is ticking very quickly on you.

I don't want to scare you, but if FHA finds that it never should have insured a loan that it currently insures, it will pull the insurance from the lender. The lender is now left with an uninsured mortgage, and will be contacting you to pay it off.

If you, or someone else has notified FHA that the anchor bolts are missing, you need to get those bolts installed ASAP, and notify everyone with photos and certs that it's been done.

.

that's just great... I didn't deceive them and that is my fear. That I am gonna pay for someone else's wrong doing. All I did was buy the house.

 

[Meandering]

Liability is a legal question.

We re not lawyers.

.