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REAL ESTATE PURCHASE - NO LONGER QUALIFY
Las Vegas, NV
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Posted about 1 year ago in Debt / Lending Agreements
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I was prequalified for a loan for a condo project that was supposed to be completed nearly a year ago. With all the changes I no longer qualify for the loan and shouldn't have then. I made $63,000 at the time and the condo sold for $345,000. It's now worth over $400,000. I have $35,000 down. Do I have any recourse since they had such easy qualification requirements?
Additional information
The condo project is now scheduled for completion October 2008 Answers (1)
John M. Kaman
This attorney is licensed in California.
Posted about 1 year ago.
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It all depends on the contracts you signed but unfortunately prequalification is not the same as qualification. If circumstances change the bank may have a legal way out. It's worth a consultation with a reputable WA real estate lawyer.
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