Updated over 10 years ago on . Most recent reply
Loan Approval with Conditions/ Letter of Explanation HELP!
Hi All,
I'm a first time home buyer and received a home loan approval with conditions this past weekend! I need advise how to do a letter of explanation explaining that I helped my parents refinance their house 9 years ago and they are currently attempting loan modification or short sale. The loan was done through a family relative but since it never showed up on my credit reports all these years I thought it never went through. I have not lived there for 8 years and never once made a payment for their house. Basically, I found out through the underwriter that I am listed as a property owner! Can my loan get denied?
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#1 Foreclosures Contributor
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#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
Not sure exactly what you're saying. What conditions are in your loan approval? Did you sign as a coborrower/co Signer? That wouldn't make you an owner, only on the loan.