What are my rights as

You need to be aware that the 3 day recession period does not apply if:

a. You are applying for loan to purchase or build your primary home.
b. If existing loan is refinanced with the same lender and no additional funds are borrowed or
c. Any state agency is creditor for the loan.




David

"What are my rights as A home buyer if the loan company processes and pushes my loan through before my 3 day recession period is up. I wanted to cancel and loan was already pushed through Help"
Is this a refinance loan? You have the right to decide whether you want to accept the loan or refuse that is what the recession period is for. How can the company push the loan through in that period.

A mortgage company cannot force anything on you. Did you send in writing to this company that you want to rescind, within the 3 day period?

you should file a complaint with ftc, they cannot do that : https://rn.ftc.gov/pls/dod/wsolcq$.startup?Z_ORG_CODE=PU01

If this is a purchase transaction....and thats what it sounds like....there isn't a 3 day right to cancel the loan. The underlying question should be why would you want to cancel the loan. Where the term different than what was quoted? What are the issues?

yeah, it's important as to why Mt wants to withdraw from the contract. There may be issues which is why he wants to cancel the loan. Mt, you can freely discuss if you are going through any problems; may be our community can give you the right suggestions that can help you out.

Good luck!

I am being forced by the sellers agent to further proceed with the purchase of a home. I have since passed the date of the due dillegence period. I cannot afford the monthly mortgage payments. The sellers agent is threatening a civil suit if I do not proceed to close on the home.

Hi law!

You can personally speak to the seller and ask him to give you some time to arrange for the payments. You may also request the seller for a easier repayment plan through which you will be able to clear off the debts.

Thanks,

Jerry

It took 11 months for my bank to process an approved loan. They took my appraisal fee and denied me my losn. Can I get this fee back?

Hi LJ,

Did you sign any kind of papers at the initial stage? Often borrowers are required to sign on papers, which list application, appraisal and other fees as non-refundable. If that is the case with you, you will not get the appraisal fee back. Otherwise, you can talk to the lender and demand a refund of the money. But I'm not sure if the lender will refund the fees.

Hi Law,

The vendor is trying to force a sale on you. Is you sale and purchase conditional on finance? If so, you must have had confirmation from your lender that your income can support the repayments? Has your situation changed in some way since you initally made you offer?

I signed a purchase agreement on a home that is suppose to be finished and close in a week. The builders have messed up the front of the house changing the whole look of the home. It was only when I told them I was backing out of the purchase that they became EXTREMELY irate telling me they would fix the home and i would have to move in or he would sue me for damages lost. I now do not want to live there. Can I get out of this without being sued in court? Even if he fixes the problem because of all of this i don't want to live there at all anymore.

Hi Connor!

Welcome to forums!

As you've signed the purchase agreement, there are chances that the lender seller can sue you in the court if you back out of the deal. In my opinion, you should negotiate with the seller regarding this and convince him to not sue you for backing out of the deal.

Feel free to ask if you've further queries.

Sussane