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Who is liable for this situation?

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dodsons Joined: 23 Nov 2009 Posts: 2 1.42 Dollars($)	Posted: Mon Nov 23, 2009 11:37 pm    Post subject: Who is liable for this situation? Like 0 Dislike 0 In very bad situation....need to know who is liable? In CA put offer on short sale on 9-9-09, escrow suppose to close on 11/27. Loan officer calls Loan fell through on Friday the 20th. We were given the keys and allowed to move in on October 25th. House going to trustee auction on 11/30?? What do we do now?
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Tue Nov 24, 2009 12:23 am    Post subject: Like 0 Dislike 0 Hi dodsons! Welcome to forums! If you are purchasing a short sale property, then the seller or the seller's lender should have informed you as to when the auction would take place. Your loan officer is not liable for anything. You should, rather, contact the loan officer and check out as to why the loan did not went through. If there are credit issues in your credit report, then you should take steps to clear them off. In my opinion, as the loan did not pass through, it would be better not to purchase the property right now. Feel free to ask if you've further queries. Sussane
dodsons Joined: 23 Nov 2009 Posts: 2 1.42 Dollars($)	Posted: Tue Nov 24, 2009 12:29 am    Post subject: Did you see the part about how we were given the keys and we Like 0 Dislike 0 live here now???? Our old house has been rented out. possibly homeless
Niicss Joined: 03 Oct 2005 Posts: 4834 Location: New Jersey 508.88 Dollars($)	Posted: Tue Nov 24, 2009 1:31 am    Post subject: Like 0 Dislike 0 You haven't mentioned in your earlier post that you've rented out the old house. That's the reason why Sussane had suggested that you do not purchase the property now. Unless your loan goes through, you won't be able to purchase the property. In that case, you'll have to rent a property and try and improve your credit. _________________ Good is the Enemy of Great.

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