Legal Question in Banking Law in Wisconsin
Commercial loan officer backs out of offer
I am refinancing my business with a local bank.They sent me a proposal with detailed payback terms and the amount of the loan.Now they are only offering half of the original amount they offered.How binding is this letter and if it could not be resolved by speaking with them could I not accept and walk away without paying title fees and misc. costs involved?
Asked on 11/10/06, 12:02 pm
1 Answer from Attorneys
David Anderson
Anderson Business Law LLC
Re: Commercial loan officer backs out of offer
Did you ACCEPT the proposal or change your position in any way after receiving it?
I would need to review it to advise you. This would be billable.
Answered on 11/10/06, 12:17 pm
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