If my sister and brother-in-law were pre-approved and got a good faith estimate from a lender but then their loan was denied, do they have any rights?

There is nothing new on their credit report .

Asked on June 12, 2012 under Real Estate Law, Pennsylvania


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Just because a person is pre-approved for a particular loan does not mean in and of itself that the person who has been pre-approved will ultimately get the loan desired. In the situation that you are writing about, with respect to the loan that was denied after the pre-approval, you would have no legal recourse as a matter of law for what transpired.

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