A client was refinancing their home–the loan was approved and the appraisal was completed. There was a smoke detector in every room and the water heater was double strapped and secured, but there was no Carbon Monoxide Detector. If you do not know what that is, then you are not alone. The client had to go to Home Depot, get the detector, and install it. The appraiser had to come back, take a photo of the installation, and send this proof to the lender–with a charge of $150. Only after this was completed were loan documents ordered for closing. Before you sell or refinance, be sure that you are well protected.
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Date: Thursday: August 7, 2014 |