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Refused a Loan |
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My nephew placed a bid on a house and put money i escrow. He ended up not being approved for the load. Now the realtor said he is keeping his escrow money because he did not write a letter to him stating he did not get approved for the loan. However, the lending company sent the realtor a memo stating this. Can the realtor legally keep his money? |
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It doesn't sound fair but I can't really judge with so little information. Your nephew can go to small claims court, represent himself at little cost, and see what a judge has to say. He should take along all documents. But first -- is it really the broker who is keeping the money, or is it the seller? He need to know which one to sue.
Let me know what happens; I'm interested. |
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Edith
Originally published on November 27, 2007 |
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