Question by jellofosho: How often are people who are applying for low doc loans being audited?
Just wondering in todays market (july 2008) what percentage of people applying for low doc loans are being audited? whats the likelyhood?
audited by the irs
Best answer:
Answer by bud68
Audited by whom?
Give your answer to this question below!
Question by Missy: I recently was declined for a FHA loan through one lender, dosage but have now been approved by another. ?
With the new lender, ampoule I had an appraisal done last week that was significantly less than my appraisal 5 months ago. If the appraisal from 5 months ago was an FHA appraisal, cheapest can it still be used even if there is a more current appraisal?
Best answer:
Answer by src50
No. The appraisal is for the lender and each lender has its own appraisal done. You don’t get to choose.
What do you think? Answer below!
No, it is more than 90 days old. Mortgage Lenders want the most current valuation in any market cycle up or down.However, they do sometimes use an appraisal from 12 months ago if it was a purchase. They “may” simply give you the same value.