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Unfortunately, changing your mind wouldn't give you legal grounds to get out of a lease as it is a completely legally binding contract as soon as it is signed. If you were to break the lease by not continuing on with it, then they can legally hold you responsible for the rent until they re-rent. If it took them a month or two to re-rent, then that is all they could charge you for.
But if they are able to find a tenant to move in before the $1100 is used up, then they would have to refund whatever is left to you.
So to answer your question directly, there is no law that says you forfeit your deposit if you break the lease, so they are lying to you about that. But they can hold you liable for any lost rent until they re-rent the property and deduct that from any deposit.