i was approved for a 502 loan of 132,700 the money was ordered and took forever to get in i had acquired
some debt in the meantime and now i'm approved for only 60,000 i signed a contract for a house but it was up in may but never signed anything else for an extention on the contract. there were contingencies on contract saying subject to 502 loan limits and requirements. since i got into a little bit of debt and will be approved for less than the house is selling for and can't get it can i get my $500 earnest money deposit back or am i in trouble can i be sued by sellers or does my contingency save me?
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