Moisture in basement=nightmare refi

[Mike D.]

My lender heard from the appraiser that there was moisture in the basement of a couple places I am trying to refi, and all hell broke loose. They are seemingly not aware that all homes of this age in the area have some dampness, or are possibly just fishing for a way to avoid following through on the loan. I'll go ahead and name the lender: Regions Bank. They delayed closing to complete a special inspection and are now requiring me to complete repairs totaling thousands of dollars to close. There's a little mold on the walls and a little water in the basement when it rains, but nothing that isn't found in 90% of homes in the area. Has anybody encountered this? Is this even legal? Interested in feedback.

[John Warren]

@Mike D. the second any lender hears about a moisture or mold issue, they will bail. I have no idea how this came up, but those are the facts. 

I would be curious to know how hard the repairs are though. A lot of times with older basements, you can run a dehumidifier, clean everything with the stuff they sell at HD, and then kilz primer everything to solve the issue. The problem of course, is that you have to be licensed to do this, but getting your GC license is not very hard.