Legal Question in Real Estate Law in New Jersey

Re: Question About Locked In Interest Rates

I have unfortunately seen many shady, unfair actions by mortgage brokers which costs the borrower (you) a lot a money. This happens most often with people who have bad credit, including filing bankruptcy. It is especially unfair because these are the people who can not afford to lose that money. Please contact me. I can not advise you without the specific facts. I am in northern New Jersey, near Paterson.

Phone: 973-890-0400

Re: Question About Locked In Interest Rates

I concur with Bob, but add the following, subject to the disclaimer below. If, at the time you submitted the application, full and complete disclosure was made, including all adverse financial information that might impact on a rate (like your bankruptcy) and the lock-in agreement had no contingencies(for example, they had not received your credit report when they submitted the lock-in and made the rate reflected in the agreement contingent on a report containing no adverse information other than that which you had already disclosed), it appears there is a valid agreement at the rate mentioned and they could be held to it. This answer is not a legal opinion as I have not reviewed any documents nor was I privy to any of the conversations between you and the mortgage company. You cannot rely upon my comments as there is no attorney-client relationship between us.