Legal Question in Real Estate Law in Massachusetts
can my mortgage lender have a vested interest in the property being sold? My lender was part owner of the property being sold to me and I felt that all information was not disclosed. Now I was told when closing that in 6 months I could refinance to do repairs on the house. Now she is telling me I cannot. I feel a bit taken and didn't know if it was a conflict of interest.
Asked on 7/11/13, 9:33 am
1 Answer from Attorneys
An attorney will need to review the mortgage documents and the deed to determine whether there was a conflict of interest that resulted in a violation of any underwriting guideline or the consumer protection laws. Similarly; the reason for the denial of the refinance is important.
Answered on 7/11/13, 10:18 am
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