How Remaining Economic Life Works
Cleveland Appraisal Blog
OCTOBER 29, 2021
In appraisals completed for mortgage lending purposes, some lenders require that the total remaining life of a home not be less than the term of the mortgage. All Mortgages to be insured under Section 223(e) must be submitted to the Jurisdictional HOC for prior approval.” REMAINING ECONOMIC LIFE FOR LENDING PURPOSES. It depends.
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