Flood Impact on Atlanta Mortgage Closings

I hope each of you and your families are well, and that you stayed dry!

Due to the widespread damage by the flooding, and with 17 counties declared as “Disaster Areas” - lenders will generally require that any appraisals completed PRIOR to the flood, on deals not yet funded, must be re-inspected to insure they were not affected by the disaster.  With many lenders, this means they will need to order a re-inspection by the appraiser, which will generally cost about $100.  Talk to the lender on any deals you have in process to ensure they are on top of this, so that your closings are not impacted.

Here at The Ryan Mortgage Team, we have a commitment to superior customer service, and we have the manpower to assist in times like these.  Our policy is that the re-inspections can be completed by a an employee, as long as that employee is not directly compensated on that loan.  That means that we have been able to complete the needed re-inspections with no impact to closing dates, and with NO FEES charged to our borrower clients.

Just one more reason to work with us!