Has anyone been able to secure a 2nd ATP under FHA's PFS ;program? Our original ATP expired, and a Wells Fargo agent advised me to have the borrower apply for a new ATP. If this can be done, it would actually be great because the previous appraisal was dramatically over-valued, making it impossible to sell the property and yield the required net to the lender. A new appraisal will ideally yield a more realistic value and allow us to complete the process. Any insights or experiences?
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Will a new ATP necessitate a new appraisal, or will they just use the old one? Sounds like Donna needs a new appraisal... Thanks.
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