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Tina
Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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I applied for a mortgage loan and was approved the process

Customer Question

I applied for a mortgage loan and was approved the process got all the way to the closing date My lender had all the information regarding my life since the first week I sat with her I bankrupt since 2012 and lender said yes I was still elgible for and approved for a loan. until a week before my closing she called and said I was that the underrighter denied my loan due to a forclosure on my credit report showing on August of 2014 they took my ernest money and my Apraisel fee what are my rights I almost stayed homeless
Submitted: 3 months ago.
Category: Real Estate Law
Expert:  TJ, Esq. replied 3 months ago.

Hello and thank you for the opportunity to assist you. My name is ***** ***** I will do my very best to help if I can. Please bear with me a few moments while I review your question, conduct any necessary research, and type a response. Thank you.

Expert:  TJ, Esq. replied 3 months ago.

Hello again. Thank you for your patience while I reviewed your question.

Before I can answer your question, I need a little more information about your situation.

Can you please confirm that you are purchasing a house rather than refinancing an existing mortgage? If so, does your sales contract have a financing contingency? In other words, does your contract allow for you to back out without penalty if you do not obtain financing? Finally, who is refusing to return your earnest money? The seller?

Thank you.

Customer: replied 3 months ago.
I was trying to purchase a house. The sales contract did not say I could not back out with out penalty. as long as I met all the deadlines.At this time it has been 7 days since I was denied the approval like I said a week before my closing date. the Realtor sent me forms to sign amiditly to withdraw from the purchase so that I would not loose my ernest money so I did I text him and call him and doesn't respond to my emails to let me know where my check is I feel that it shouldnt take this long to return my check i guess i am just worried.please excuse my typing and Grammer.
Customer: replied 3 months ago.
when i applied for this loan the lender should have known the Fha Guide lines. Not come at the last minuite and and tell me due to a foreclosure on the credit report which should have never been used against me in the first place. I filled the bankrupt in 2012 and was discharged.
Expert:  TJ, Esq. replied 3 months ago.

Hello again.

You wrote: The sales contract did not say I could not back out with out penalty.

My response: I am less interested in what the contract does not say, and more interested in what the contract does say. Does your response above mean that it does not allow for cancellation of the sales contract in the event that you do not obtain financing? That is very important.

Also, who is refusing to return your earnest money? Who is holding it?

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