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I went to close on a home yesterday and was taken blinded…

Customer Question
Hello, I went to...

Hello, I went to close on a home yesterday and was taken blinded side as to closing costs. I didn’t have enough, I called the bank today and they said they would cover the reminder and I advised I was just notified at closing the tenets moved out. Should the loan be written different since I no longer have tenenats and the loan included the rent money from tenants?

Lawyer's Assistant: What steps have you taken so far? Have you prepared or filed any paperwork?

I called the bank and intailling he said we are going to sweep it under the table because that would change my approval for the loan as to occupancy. I called back and he said there is nothing he can do the loan is closed.

Lawyer's Assistant: Where is the home located?

In Pa. It is a duplex.

Submitted: 7 months ago.Category: Real Estate Law
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Answered in 1 minute by:
12/22/2017
Real Estate Lawyer: Ely, Counselor at Law replied 7 months ago
Ely
Ely, Counselor at Law
Category: Real Estate Law
Satisfied Customers: 103,583
Experience: Qualified attorney in private practice including business, family, criminal, and real estate issues.
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Hello and welcome to JustAnswer. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. (You may also be offered a phone call, but those don’t come from me and are offered by the website and you are under no obligation to accept.)

I am sorry to hear about this situation. The answer is yes, primarily because the loan amount has changed (as I understand it). If so, then the documents have to be amended. It may be a good idea to move the closing date and to update the documents.

"I STRIVE FOR FIVE!" My goal is to answer your question to your satisfaction. Please rate with five stars (★★★★★) and click SEND. It does not cost anything extra to rate. You may need to scroll left/right/up/down to see these stars. Rating my answer the bottom two stars or failing to submit the rating reflects poorly on me, even if my answer is correct. If you are not satisfied for whatever reason, or, have follow up questions, please simply reply with SEND before or after rating and let's continue to chat until you are satisfied. This is what I am here for.

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Customer reply replied 7 months ago
I closed. I thought if I didn’t have all the funds to close the transaction wasn’t complete.
Real Estate Lawyer: Ely, Counselor at Law replied 7 months ago

Ah, okay. In that case the documents may still be amended. The lender should be willing - without issue - to sign a supplemental amendment to include the recent facts. This is NOT uncommon. One can simply approach them with that request.

Kind Reminder: Please, use SEND button to keep chatting, or please rate positively and click SEND to submit your rating once satisfied. You may always ask follow ups at no charge before or after rating. "I STRIVE FOR FIVE!"

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

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