Asked by Edwardo, Concord, NC • Wed Oct 1, 2008
get a contengency. I also signed for arbitration. 10 months later, my new home still has not sold. The builder is saying that my credit score still passes so I'm obligated to close. However (new and old home) would consume 60% of my income each month which I cannot sustain. I asked them about backing out and they keep my 8K escrow on 250K home. They agreed. Then they changed their mind and want to take me to arbitration to force me to close. What are my options? If I close I'm sure to foreclose eventually.
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