Legal Question in Banking Law in Vermont

Breach on Contract-Defective Mortgage?
I purchased a home as Four Star ENergy Rated, receiving bank disclosure, qualifying for EEM (rater and bank had ties) mortgage stretch debt/income ratio on false efficiencies. Low income buyer with shared equity agreement. Seller made the representations and financed. The home is NOT 4 Star based on energy audit. Can I seek to be released from shared equity based on the misrepresentation?

Asked on 3/23/07, 2:04 am

David Anderson Anderson Business Law LLC

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Re: Breach on Contract-Defective Mortgage?

You may have a right to rescind the transaction or sue for damages.

You need to contact a real estate attorney in your local area to obtain documents and have certified inspection of the property before proceeding.

Answered on 3/23/07, 7:39 am

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