Can mortgage companies change my contract after they have already approved it?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Can mortgage companies change my contract after they have already approved it?
I am buying a home and have had my loan approved. Now the bank is trying to tell me that I have to have the septic system fixed before settlement. Is this legal?
Asked on August 3, 2012 under Real Estate Law, Virginia
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Loan approval is generally based upon a lot of different issue and where you are in the process matters. Generally loans are contingent upon the house passing inspection and any matter found during inspection can become an issue to final approval. I would speak with a lawyer in your area given the facts of your particular case. Good luck.
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Loan approval is generally based upon a lot of different issue and where you are in the process matters. Generally loans are contingent upon the house passing inspection and any matter found during inspection can become an issue to final approval. I would speak with a lawyer in your area given the facts of your particular case. Good luck.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.