Compare Mortgage Quotes

daily2922 · Joined: 03 Nov 2008 Posts: 1 1.35 Dollars($)

We are curreently trying to buy a house,short sale.We intially made an offer on another property, but our offer was not acceped.We then located a new property put our bid in and it was accepted.One day before closing on our dream house, we were told our interest rate had changed and the lender needed an additional $3400. When we asked why our rate was not locked in we found out the mortage lender never re wrote the loan for the current property we are trying to buyI think we have several breaches and need information on how to investagate

shane · Posted: Mon Nov 03, 2008 1:34 pm Post subject:

Well unfortunately there isn't a lot for you to do at this point other than to try and work something out with the lender, and also complain to whomever licenses them. It's a bad mistake but it does happen, it's just unfortunate that interest rates are quite a bit higher than they were a month ago.

smithsussane · Posted: Mon Nov 03, 2008 8:55 pm Post subject:

Hi daily!

Welcome to forums!

The lender should have locked the interest rate but as they haven't you do not have much to do. Yes, as Shane has said, you can place a complaint with the department which has offered license to the lender. You can also cancel the deal and search for a new property.

Feel free to ask if you have further queries.

Sussane

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1

Compare Mortgage Quotes

Is it a breach of contract if interents rates change the day