Legal Question in Credit and Debt Law in Florida

I provided an escrow to buy a house, and the closing date is today. Last week the bank sent me a letter approving the credit with conditions, between those conditions were: wages verification, paying for insurance in advance, among other conditions. I've not paid for the insurance in advance. I've lost my job, and I don't want to make any further progress with the transaction because I can't pay for the house. My question is: what is going to happen with my escrow, and if there will be any legal problems?


Asked on 5/16/16, 5:46 pm

1 Answer from Attorneys
David Slater David P. Slater, Esq.

Hopefully your contract was subject to you obtaining a mortgage by a certain date. You didn't so, the contract should be deemed terminated and the deposit returned. Good luck.

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Answered on 5/16/16, 6:15 pm


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