Posted on: 13th Jun, 2010 11:40 am
i closed 2 yrs ago and realized now why i owed the bank and seller at the same time because the loan amount was not enough topay the seller off but why i didn't get approved for 20k more which i owed the seller. please help!
Hi robelle,
Your query is not clear to me. As far as I can understand, it is your lender who will be able to help you in knowing why you didn't get approved for 20k more which you owed the seller.
Your query is not clear to me. As far as I can understand, it is your lender who will be able to help you in knowing why you didn't get approved for 20k more which you owed the seller.
thanks adonis. to clarify i got approved for 347K paid old mortgage and seller but i should have borrowed 367k to pay seller exact amt but didn't get approved for this amt. if my credit is not excellent why it didn't get decline since i have no $$ aside to pay the seller? i will call the lender. more info will be appreciated. thanks again.
Hi robelle!
Welcome back to forums!
It is true that you will have to pay a down payment to the seller in order to secure the mortgage. Did you go for a private mortgage insurance in order to secure the loan as you were unable to pay the down payment?
Sussane
Welcome back to forums!
It is true that you will have to pay a down payment to the seller in order to secure the mortgage. Did you go for a private mortgage insurance in order to secure the loan as you were unable to pay the down payment?
Sussane