Legal Question in Real Estate Law in Pennsylvania

Re: Loan cannot close due to no comps!

Where is your lawyer and what does s/he say?

Having a construction loan and an end loan is a complicated transaction, and should not be entered into without legal advice.

When you signed the loan documents, and I hope that you had an end loan commitment from the very beginning, those documents spelled out all of the terms and conditions.

Real estate Brokers and Mortgage brokers cannot give legal advice.

If you didn't use a lawyer before, you should certainly consult one now.

This response is not legal advice, since I do not have all of the information that would be required, and I do not have a representation agreement with you.

* If the answers to your question confirm that you have a valid issue or worthwhile claim, your next step should almost always be to establish a dialog with a lawyer who can provide specific advice to you. Contact a lawyer in your county or township.

* Another reason for contacting a lawyer is that it is often impossible to give a good answer in the Internet Q&A format without having more information. The unique circumstances of your situation and things that you may not have thought to mention in your question may completely change the answer. If you want to be sure that you have a complete answer to your question and an understanding of what that answer means, establish a connection with a lawyer who practices in the area of your concern.