my daughter got offered a mortgage / goverment help from rbs after all the paperwork was accepted the compnay called her and said its been canceled please help
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work with a mortgage broker in your area
A mortgage does not become binding for either party until names are put on the dotted line. There was no cancellation of her mortgage, she was denied a mortgage because they found something in her paperwork that disqualified her. The paperwork may have been accepted for the application for a mortgage but it does guarantee approval.
Maybe you and your daughter should brush up on how mortgages work before you go looking for a house again. Otherwise you will end up like some many others, foreclosed on and not understanding what just happened.
Her application did not qualify for some reason. Contact RBS and ask why, you may be able to amend the application or correct an error. If she simply doesn’t qualify then she will have to seek another source for a mortgage loan.
the only time the 2d loan holder gets no longer something is that if the homestead sells for decrease than the 1st notice. particular, you may grant the 2d loan company much less, yet don’t be shocked in the event that they say no. in case you sell the homestead for decrease than it is worth, the loan company’s can nonetheless come when you for the stability, until eventually you document financial ruin 13. ideal element you’re able to do is consult with somebody head to head with regard to the ideal thank you to circulate approximately dealing with this. maximum attorneys provide you a 1st seek for suggestion from loose. Barring that, verify which incorporate your banker – they’re going to consult with you for loose. Wow, what a rock and stressful place – i’m hoping you’re making out ok.
Ask RBS. They probably found something in her credit history that was bad.
An offer is just an offer. They can rescind the offer at any time.