Refinance with Durable General POA

[Michael Radney]

Hi folks, I've searched around but haven't seen a solution for this particular question.  I'm POA for a family member who has dementia.  I've addressed everything else in his life and now I'm down to his real estate.  I'd like to refi and fully renovate a paid-in-full duplex he owns in Richmond, VA.  I'd move him in one unit and rent out the second one.  I'd prefer to use Fannie Mae's HomeStyle loan if at all possible.

I've been involved in a few real estate transactions over the years and I already know a lender underwriting a Fannie/Freddie product is going to issue a conditional approval requiring a specific, limited, real estate POA but my family member is no longer able to sign one.

Before I go down the path towards having his credit pulled, does anyone have a solution for this roadblock?