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  • May 31, 2009 at 1:24 PM #15788
    cv2
    Participant

    We are doing a refi and has signed the escrow paper ten days ago. But the escrow is supposed to close on Wednesday but nothing happened. We called the escrow and were told that the new lender has not made the funding.

    As many of you have noticed that the mortgage rate has crept up abruptly in the last couple of days. This may make the lender reluctant to do the refi because they may lose money on this deal. My question is, can they back out of the deal, legally?

    Thanks.

    May 31, 2009 at 2:35 PM #407909
    donaldduckmoore
    Participant

    not supposed to!!

    But what about the “new” lender? Why is it new?

    May 31, 2009 at 2:35 PM #408602
    donaldduckmoore
    Participant

    not supposed to!!

    But what about the “new” lender? Why is it new?

    May 31, 2009 at 2:35 PM #408454
    donaldduckmoore
    Participant

    not supposed to!!

    But what about the “new” lender? Why is it new?

    May 31, 2009 at 2:35 PM #408390
    donaldduckmoore
    Participant

    not supposed to!!

    But what about the “new” lender? Why is it new?

    May 31, 2009 at 2:35 PM #408147
    donaldduckmoore
    Participant

    not supposed to!!

    But what about the “new” lender? Why is it new?

    May 31, 2009 at 2:37 PM #408152
    UCGal
    Participant

    The loan was approved already? Appraisal, underwriting, etc?

    If so – I would think they have to honor the locked rate.

    May 31, 2009 at 2:37 PM #408396
    UCGal
    Participant

    The loan was approved already? Appraisal, underwriting, etc?

    If so – I would think they have to honor the locked rate.

    May 31, 2009 at 2:37 PM #408459
    UCGal
    Participant

    The loan was approved already? Appraisal, underwriting, etc?

    If so – I would think they have to honor the locked rate.

    May 31, 2009 at 2:37 PM #407914
    UCGal
    Participant

    The loan was approved already? Appraisal, underwriting, etc?

    If so – I would think they have to honor the locked rate.

    May 31, 2009 at 2:37 PM #408607
    UCGal
    Participant

    The loan was approved already? Appraisal, underwriting, etc?

    If so – I would think they have to honor the locked rate.

    May 31, 2009 at 9:15 PM #408334
    cv2
    Participant

    The loan was approved. We signed the escrow paper, which we had three day to change our minds. So the loan was suppose to close three days later.

    Good to know that the lender has to honor their commitment.

    Thanks!

    May 31, 2009 at 9:15 PM #408791
    cv2
    Participant

    The loan was approved. We signed the escrow paper, which we had three day to change our minds. So the loan was suppose to close three days later.

    Good to know that the lender has to honor their commitment.

    Thanks!

    May 31, 2009 at 9:15 PM #408096
    cv2
    Participant

    The loan was approved. We signed the escrow paper, which we had three day to change our minds. So the loan was suppose to close three days later.

    Good to know that the lender has to honor their commitment.

    Thanks!

    May 31, 2009 at 9:15 PM #408578
    cv2
    Participant

    The loan was approved. We signed the escrow paper, which we had three day to change our minds. So the loan was suppose to close three days later.

    Good to know that the lender has to honor their commitment.

    Thanks!

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