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Irwin Law
Irwin Law, Lawyer
Category: Real Estate Law
Satisfied Customers: 6777
Experience:  Lawyer- Broker 30+years - foreclosure, short sale, liens, title attorney.
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Can quicken loans make us go to the extent of tearing down

Customer Question

Can quicken loans make us go to the extent of tearing down my kitchen in basement in order to get my parents their loan? There was a balloon payment due of a huge amount but we decided to refinance 1st and second mortgage together so bmo harris would get their balloon payment. But they are saying based on the appraisal report, i have to tear down my kitchen in my basement apartment permanently that i lived in for 9 years in order to get the loan my parents need. I have a 16 yr old, that's unfair. Can they do that? Is it legal?Mind you when my parents bought this house in 81, the kitchen was already there and has been remodeled twice since purchase of the house.
Submitted: 6 months ago.
Category: Real Estate Law
Expert:  Irwin Law replied 6 months ago.
Yes they can do that, and yes it is legal. The Appraisal might have pointed out that the kitchen was a code violation, Or in some kind of hazardous condition. You will have to talk to a senior loan officer at Quicken and try to convince them that the basement apartment is A positive feature; however, if it violates the zoning code that was in effect at the time it was constructed, then it is not grandfathered and the city could make you remove it if they were to inspect the home and find it. You have to get more information about why Quicken requires you to remove it.
Expert:  Irwin Law replied 5 months ago.
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