Legal Question in Real Estate Law in Illinois
I'm having problems with the mortage company in which we are getting a loan with. THe mortage company has given us a letter of commitment and now the loan officer and is stating that she missed and the underwritter missed that my husband check showed child support. Now she is meeting with her manager. Is not right, what can we do?
2 Answers from Attorneys
First call the attorney that is handling your closing. They can advise you. Also, the Lender has their own rules and regulations, you are really at their mercy.
You may not realize it, but this is not a bad situation. What would be a bad situation is if they gave you a loan without including that expense in their analysis and you cannot really afford the loan if you do include it. You would be joining a whole lot of people who are having their homes foreclosed upon becasue they have new much debt for their income. Hopefully, you will still qualify after they rework the numbers. Good luck.
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