Hud Help

[Dwayne Stutzman]

I put a bid on a hud home for $55,000 and they accepted our offer. It was list for $45,000 . I was buying this house for living in. We are using a FHA loan were preapproved for. Now heres were it gets screwed up.

They said back that they couldn't except it know because it was over what they thought it would apraise for. So my lender changed the loan to $46,000 and we resubmited it back. So now their saying we can't change our bid.

And we have to use thefirst bid of $55,000 but we now have to come up with $10,000 to show if it doesn't appraise for the $55,000 to make up the difference. Which we don't have. What I don't get is our lender is the one who does the appraisel on it and I can't believe it won't appraise for that.

Its almost 2000 sqft 4 bedroom 2 full bath 3 car garage and only need scarpet and paint cleaning and thats pretty much it. It sold for $125,000 2 years ago. It,s going to really piss me off if we don't get this house because its a real good deal.

What if anything can I do ? Any suggestions on working with hud? I'm waiting to hear back f rom my lender because he's trying to work it out also.