[msilagy]

This is one of the reasons a real estate lawyer is needed when you buy or sell a home. Florida doesn't use them - up north no one makes a purchase/sell without a lawyer so things like this can be avoided. Seems like one is needed now,

[Ndomines]

Just sign a witnessed statement and
Be sure to include the names of all the people you are accusing. Next get a lawyer, file a lawsuit and present your claim in court. You might want to bring
an overnight bag.




QUOTE=BobsBurgers;1876469]Is it legal for the villages to refuse finalizing the closing of a new home based on an FHA mortgage? Especially when this this was never disclosed prior and we are 2 weeks from the date with everything packed and ready to go![/QUOTE]

[biker1]

You might wish to check your contract for wording about penalties for not closing on time. When we bought, the penalties were utilities, amenities fee, interest on their construction loan, and $250 per day, IIRC. Just to be sure, are you saying that you are ready to close on time with FHA funding but the Developer is refusing to go to settlement ? If so, you need an attorney because they may start eating into your deposit for the penalties.

Originally Posted by BobsBurgers

No, nothing missing at all. Brand new villages home, been searching with our salesperson for many months for just the right one. Not a mention in the contract or from the salesperson until the final closing documents are being prepared. This is NOT ok.

[Larchap49]

Originally Posted by charlieo1126@gmail.com

You are correct , something is missing in that post and speaking for myself I would never in any of my homes sales accept an FHA buyer , but that’s just me .

I felt the same way but when I expressed that to my realtor she contacted the lender and was assured the FHA paper work had been streamlined, the buyer had excellent credit and met all guidelines for 100percent financing. We closed in 3 weeks. It all depends on buyer qualifications and home condition.

[PugMom]

this is really none of my business, but are you able to share the name and/or company of who you are working with?

[Larchap49]

Originally Posted by CoachKandSportsguy

The quick closing schedule is designed to be favorable to the Citizen's first mortgage company, which will accommodate the requirements of the developer's quick close process. Cash is even better, but the developer knows the typical mortgage processes and wants to make money from all his businesses. . .

So, fair warning, Citizens First is the developer prefered mortgage lender, cause he owns it, and the bank can perform to the developer's requirements.

just bend over a bit

BINGO!!!! someone who gets it. It's all about the money

[zuidemab]

Originally Posted by NemoCrownie

We just closed 6 weeks ago in TV and the contract stated that we had 30 days to close or we would be subject to high per day financial penalties. We were advised that the Villages does not accept anything except conventional financing because there is no way an FHA or VA loan can close in 30 days and TV will not make any accommodations for any requirements that FHA and VA loans require. What does your signed contract state regarding financing?

If you can close an FHA loan within 30 days, without any requirements put on TV, then I would doubt TV would care. Were you able to get an FHA loan with a guaranteed 30 day closing and waiving the home inspection, etc.? We just closed on our previous home last week and it was an ordeal for the buyer to get their conventional loan closed in 45 days due to everyone in the chain being backed up.

Complete and correct

[vintageogauge]

Don't waste your money on a lawyer, they sell an average of 6 or 7 new homes per day 365 days a year and I'm sure they crossed all the T's, etc. Start talking with them on how you are going to resolve this instead of fighting them you will be much better off in the long run. Maybe they can get their "lender of choice" involved and get you approved quickly.

[Marine1974]

Very shocking a veteran who served his or country cannot access his VA eligibility to buy a home in the villages with a no money down and use a
VA loan . Can someone explain this ? VA loans are not that hard to process anymore and can be completed in 30 days . The bank who is the lender handles the paperwork and hands over the cash to the seller . Makes the villages not that appealing to a veteran to move to if VA loans are not acceptable. There is no mystery to a VA loan . Sorry to hear .

[Bethwill]

Wouldn't surprise me if Citizens First would miraculously be able to pull it together for you in the short time frame. They seem to do whatever is necessary to get business and sell homes.

[charlieo1126@gmail.com]

Originally Posted by Marine1974

Very shocking a veteran who served his or country cannot access his VA eligibility to buy a home in the villages with a no money down and use a
VA loan . Can someone explain this ? VA loans are not that hard to process anymore and can be completed in 30 days . The bank who is the lender handles the paperwork and hands over the cash to the seller . Makes the villages not that appealing to a veteran to move to if VA loans are not acceptable. There is no mystery to a VA loan . Sorry to hear .

the 19,000 veterans who find the villages appealing.

[sallyg]

Our experience dealing with the Villages was basically "Their way or the highway."
Hope you are able to find a solution.

Originally Posted by Bethwill

Wouldn't surprise me if Citizens First would miraculously be able to pull it together for you in the short time frame. They seem to do whatever is necessary to get business and sell homes.

We were very pleased with Citizens Bank as all the paperwork was finished in a week and the interest rate was at prevailing rate. On the other hand BBT bank took two months to complete the mountain of paperwork and increased the rate 0.5 percent at the last minute.

[DAVES]

Originally Posted by BobsBurgers

Is it legal for the villages to refuse finalizing the closing of a new home based on an FHA mortgage? Especially when this this was never disclosed prior and we are 2 weeks from the date with everything packed and ready to go!

If, I may suggest, I would ask your bank. I would assume the issue is the closing costs..
Perhaps, you can offer to pay them or split them with the seller.

"Two weeks from the date with everything packed." That seems to be the new trend. You get to the closing and people knowing they have you under pressure squeeze you.
We had a similar thing pulled. I don't know you. For us our atty a nice person a poor representative of my interests. The seller's atty was allowed by her to control the situation. There we sat with the title company, the bank rep the sellers an my wife and I.
They tried to hit us for $1500. My wife in tears said aloud just give it to them making it tough for me to refuse. I'm not certain but i expect all knew that our property was loaded on the moving van. They were all shocked including my atty, when I told them,
IT IS NOT GOING TO HAPPEN and I closed my paperwork.

Anything can be negotiated. The question is do you have the nerve AND MORE IMPORTANT is it worth the risk and the potential cost. You may want to call your mover.
If, it is a long distance move, shockingly your contract likely says delivery on or about.
You may want to check what they will charge you to store your property.

Legal advice. If, you do not have an atty, you may want to call a real estate atty and ask your question. You may be able to get your question answered for free. Having an atty represent you for a closing runs about $4-600.

[Jayhawk]

Originally Posted by BobsBurgers

Is it legal for the villages to refuse finalizing the closing of a new home based on an FHA mortgage? Especially when this this was never disclosed prior and we are 2 weeks from the date with everything packed and ready to go!

This is why many sellers, not just The Villages, do not accept VA or FHA buyers.

Why Do Owners Reject My VA Loan Offer? | Home Guides | SF Gate