Asked by Being Outmaneuvered, 92705 • Thu Nov 4, 2010
we (buyer) gave seller a preapproval letter which i know is a cursory review of our financials. there was a reporting error showing up in the footnotes. apparently these footnote errors did not affect our credit score (800) so it didn't flag our lender to comb the credit detail before he wrote the preapproval letter. Also a brand new reporting error showed once the first error was cleaned up. Our lender has not seen this in 18 yrs of business. All this rescoring is causing us delay in escrow. if we cancel escrow saying we can not get a loan in time of escrow, does the seller have strong arguments to hold our deposit and what would they try to do? they are trying to charge us per diem too.
Real Estate in Santa Ana
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