Most home loan lenders are taking a different outlook these days on the property quality itself, future property values and expectations, and the sellers/buyers motivations with respect to the non-disclosure of material facts concerning home drainage during the sale of a home.
As a result I see lenders in my market writing a different play book for financing homes with home drainage problems.
Most lenders are not going to finance a drainage problem anymore unless the hand excavated french drains are installed before closing of escrow rather than a band aid approach to groundwater problems. (more…)
