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Mortage Company putting us off

Discussion in 'Foreclosure, Repossession, Auctions, Short Sales' started by Paulinem, Nov 22, 2016.

  1. Paulinem

    Paulinem Law Topic Starter Guest

    Jurisdiction:
    Tennessee
    We sold our home and found a new one. Closing was to be done on both homes the same day. Because they requested more bank statements new homes closing would be the following day. No problem just stay in a hotel for one night. We four weeks later and $5000 plus we are still in a hotel. Every week it's something different. The company ran our credit 5 different times. If i knew this was going to happen i would not of signed on our old house. But we trusted what our mortage was telling us. We email call and even text him and we might get a response back. Is there some thing we can do while they just keep stringing us around? It u s very stressfull and have been sick because of the situation.
     
  2. adjusterjack

    adjusterjack Super Moderator

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    Sorry, no. Until you get a written commitment for the new loan all you are doing is applying for the new loan. Appears you counted your chickens before they hatched.

    If the sale of your old home was contingent on you getting the new loan for the new purchase then you shouldn't have closed without the written commitment for the new loan no matter what the loan officer was "telling" you.

    If the sale of your old home was not contingent on you getting the new loan for the new purchase then you would have had to close on the sale anyway, no matter what, or face even more financial consequences for breaching the contract with the buyer of the old home.
     

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