Legal Question in Real Estate Law in Michigan

I have been working with an private investor, I have signed application, loan application, complied with terms of loan application, been assured thru emails the investor will perform upon trip to see property... now the investor is trying to back out by stating he does not have time to visit property after he wrote an email to me confirming his intent to provide financing upon trip to perform due dillegence which he invited the realtor and foreclosure bank selling the house to call him if they need proof of funds verification. He stated he needed till end of 1/7/2010 to make the trip and make his determination with funding provided shortly thereafter.

This investor has been in contact with myself since contacting me on thru an advertisement for private investor finacing. He has assured me verbally and thru email that he would provide financing upon visiting the house to verify equity and seeing what he is investing in. He also agreed to hold my current house in 2nd secured interest and a commercial property that is paid off in 2nd secured interest.

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