Legal Question in Real Estate Law in New Jersey

mortgage

i had a pre aproval from a bank,i find a house sign contract,first that mortgage officer didnt return any of my calls and e.mails.i am first time buyer and it was refered by my realtor.first they said i signed papers with 10% down and they said i need to put 20% down and when i received comitment the intrest rate was.5% more than what i signed before i tried to call him and e.mail hime and finally i got answer that i was aproved as high risk borower even my credit score was 697 which is above average,now i signed and send the comitment back with high intrest rate and they saying they are all booked and they cant process it before my setelment date,is there any way i can delay or get out of contract?my setelment is week away.


Asked on 10/26/02, 6:17 pm

1 Answer from Attorneys
Savyon Grant Law Office of Savy Grant

Re: mortgage

YOU CAN DELAY YOUR CLOSING IF YOU DO NOT HAVE A TIME IS OF THE ESSENCE. YOU NEED TO HAVE YOUR ATTORNEY VERIFY ALL OF THIS. I ALWAYS TELL MY CLIENTS TO WORK WITH 2 DIFFERENT MORTAGE BROKERS. IF YOU DO NOT HAVE AN ATTORNEY, I SUGGEST YOU GET ONE ASAP. I AM AN EXPERIENCED REAL ESTATE ATTORNEY IN NJ, IF YOU NEED ASSISTANCE I CAN BE REACHED AT 201-646-9600.

SAVY GRANT

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Answered on 10/27/02, 8:47 am


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