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Old 03-09-2009, 12:12 PM
 
2 posts, read 3,660 times
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My husband has been ill the last week. they do not know what is wrong. We were buying a home and it's going to close anyday. We haven't signed the loan docs yet. is there anyway that i can get out of this?
i'm afraid if my husband has a serious condition, can't work, i won't be able to make the payment. Any advise appreciated.
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Old 03-09-2009, 12:43 PM
 
Location: Happiness is found inside your smile :)
3,178 posts, read 13,181,212 times
Reputation: 1256
You should seek advice from your mortgage lender or real estate agent - and get correct advice
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Old 03-09-2009, 03:53 PM
 
Location: Sacramento
13,757 posts, read 23,242,578 times
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Moved to mortgage forum.
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Old 03-09-2009, 06:10 PM
 
Location: central, between Pepe's Tacos and Roberto's
2,086 posts, read 6,103,103 times
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I would talk to your real estate and mortgage professional as well. However, keep in mind that you are under no obligation until you sign the docs. You may lose your earnest money deposit if you back out, but the lender cannot force you to take the loan.
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Old 03-09-2009, 08:12 PM
 
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I think even in most cases, as long as your attorney does a proper job, you shouldnt lose your earnest money either.
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Old 03-10-2009, 05:35 PM
 
Location: Sacramento
2,568 posts, read 5,846,080 times
Reputation: 1905
Quote:
Originally Posted by imscared4 View Post
My husband has been ill the last week. they do not know what is wrong. We were buying a home and it's going to close anyday. We haven't signed the loan docs yet. is there anyway that i can get out of this?
i'm afraid if my husband has a serious condition, can't work, i won't be able to make the payment. Any advise appreciated.
I am sure if you call the lender and tell them your circumstances have changed and your dh may not be able to work they will deny you loan.
Most purchase agreements have a clause that says you get your earnest money back if you do not get financing.
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