Quote:
Originally Posted by greglepore
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an important note-If you can't get a u and o on the house, you won't get a loan for it, unless its a construction loan which you'll then need to pay off or convert to a mtg within a specified timeframe and after you've made the repairs....
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u and o, I assume Use and Occupancy?
In NY they call it a CO, Certificate of Occupancy.
You can get a mortgage without one. Depends on the lender.
That's how my issue was missed, WAMU did not ask for or require proof of CO so everyone accepted what the builder presented.
When I sold the house the buyer was able to close. My remedy was in process but still took 10 months after close to complete.