Re: Anyone Heard About Bank Restrictions on Non-MLS Sales? | <– Date –> <– Thread –> |
From: Sharon Villines (sharon![]() |
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Date: Sat, 22 Dec 2012 07:06:16 -0800 (PST) |
On Dec 21, 2012, at 8:28 AM, Dave and Diane <daveanddee [at] verizon.net> wrote: > She said that the banks have tightened lending standards and some > will not loan to properties that are not listed in the MLS. The bank > she is working with only allows one non-MLS property per development. > Anyone else heard of this situation? I've never heard of this and find it as absurd as the National Rifle Associations pledge to develop gun response squads in all public schools. MLS listings are businesses that list properties for sale for the convenience of real estate companies. To use a business listing as evidence of resale value is a criterion unrelated to the quality of property or to the ability of the purchaser to pay the mortgage. It's very close to saying that they will lend only for homes sold by real estate agents. This has to be in violation of some law about monopolies and bias. Freedom of religion? Takoma Village has allegedly had a refinance refused when an assessor for the bank said that FHA wouldn't insure loans in cohousing. I have yet to see that on paper but the broker has refused to take an application on my unit on that basis. I've been asking to see it in writing but I'm not the owner and the mortgage broker isn't pushing getting it on paper. They are just going to a different bank. The problem with insidious rumors and vague criterion is that no one wants to push it. If it becomes public it will cause all kinds of problems. We need a legal inquiry into this. Is anyone from CohousingUSA listening? Perhaps we need a national fundraising effort to hire a lawyer? Lawyers to donate their time? Sharon ---- Sharon Villines Takoma Village Cohousing, Washington DC http://www.takomavillage.org
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Anyone Heard About Bank Restrictions on Non-MLS Sales? Dave and Diane, December 21 2012
- Re: Anyone Heard About Bank Restrictions on Non-MLS Sales? Sharon Villines, December 22 2012
- Re: Anyone Heard About Bank Restrictions on Non-MLS Sales? Sharon Villines, December 22 2012
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Re: Anyone Heard About Bank Restrictions on Non-MLS Sales? Holly McNutt, December 22 2012
- Re: Anyone Heard About Bank Restrictions on Non-MLS Sales? Sharon Villines, December 23 2012
- Re: Anyone Heard About Bank Restrictions on Non-MLS Sales? Holly McNutt, December 23 2012
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