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Old 01-07-2010, 11:56 AM
 
1 posts, read 1,700 times
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I have a Land Contract that I entered into Oct 2006. It expired Oct 2009. The owner has let me and my new husband stay it out due to declining price ect. The problem is that even though he has agreed to let my new husband and I purchase the home for what he owes on the home, the bank first told us to have his name put on contract and we could refy it now they are saying we cant refy it because we would need to put up $20,000 to meet the critiea of the value vs the refy amount. Now they are saying my husband can't purchase it??? Im so confused is it the bank (Chase) that has it wrong or are we stuck? We really would like to just make this our home with a conventioal mortage but the banks seem to be confused with the land contract ascpect of the home.
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