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? asked in Home & GardenMaintenance & Repairs · 1 decade ago

mold on panel boards? getting fha approval?

i am buying a home that is 43 years old. it has paneling in the basement and the FHA appraiser noted concern about mold on those boards which had visible backing (a closet). i pulled down a few of the panels tonight and there is no mold on the cement wall behind the panels, it's all on the panels. Even where the stairs meet the panels there is mold on the panels but nothing on the drywall.

is this common? can i question the appraisers findings when it comes to this and an FHA mortgage? the basement is not deemed livable space according to the FHA guidelines, so does basement mold even count?

3 Answers

  • 1 decade ago
    Favorite Answer

    fha approvals can be a real b*tch! some of the guidelines don't even make sense! but call your local HUD office, they can help. you can also view the guidelines online if you've got the time! go to for more info. if you have a good fha mortgage guy, he may already be familiar with some of the guidelines. but beware! even very large banks sometimes put the cart before the horse and overlook or misread fha guidelines. this can cost you a lot of time, trouble, and money. I DO NOT RECOMMEND BANK OF AMERICA. (but they will probably end up with your fha loan anyway, just initiate the loan with someone you trust)

  • 1 decade ago

    Mold is never a common thing even if it's only on the paneling. Something is causing the mold and it should be fixed. There is moisture build up which could become a bigger problem if not taken care of. You need to install a moisture barrier which former owners never did.

    I agree with FHA when they said the basement is unlivable space. Mold can cause health problem, thus deemed unlivable space. Should you want to store things in the basement they to will most likely form mold. Former owners should have used a dehumidifier to control the moisture build up in the basement. A dehumidifier should always be used in basements even if you're not using the basement as living quarters.

    You can ask all the questions you want/need to ask. It's better to find out now. It may make a difference if home loan is approved. If the former owners want to sell the house then they should be responsible for any repairs before loan approval. If FHA deemed the basement unlivable space (if I'm correct on that point) it could effect if you get approval or not. Ask questions.

  • Rondi
    Lv 5
    1 decade ago

    ALL mold counts. Mold is not your friend. Mold can destroy a home. Do not buy this home.

    Source(s): Hurricane Katrina victim. Mold sucks.
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