I contracted to having a vinyl siding job done on my home to meet requirements for va loan. The lock on the loan has a deadline due on 29th of this month or I lose the lower interest rate which will cost me around 50.00 a month. I have signed contract with Lowes to do the job and I paid them in full in advance when installers were to start the job Lowes called me and said installer quit. It is very difficult to find new contractor to meet my deadline with the bank or lose my low interest rate. Would you please offer me some advice on how i should handle this. thanks
You could potentially have a breach of contract claim against Lowe's, depending on the terms of the contract. If the contract said they would start and finish the job on certain dates, and they have missed the start date, they could still finish the job on time, in which case you would suffer no damages. However, if Lowe's delays too much and the job is not competed on time, they'll have breached the contract and caused damages, and you could likely pursue a claim against them.
If you don't think Lowe's will complete the job on time, it may be wise to reach out to the VA Loan organization. You can explain the issues you're experiencing with Lowe's, and they may extend their deadline for the lower interest rate, as your siding situation is somewhat out of your control at this point.
Either way, you should seek the advice of a contracts/construction attorney in your area. They'll be able to review your contract in detail and advise you on any causes of action you may have, both now and in the future. Best of luck to you.
Send written notice of your concerns to Lowes. If you signed a contract for the services on a contract provided by Lowes you may or may not have any recourse. You should have the contract reviewed by a local attorney. $50 per month over the life of a mortgage is a lot of money so take action quickly. You may also want to contact the Oregon Construction Contractor's Board for assistance building a fire under the contractor.
All the best!
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