Daily Archives: September 5, 2007
Job Cuts Jump on Mortgage Mess
Challenger, Gray and Christmas, an international outplacement firm based in Chicago, announced this morning that planned job cuts zoomed 85 percent in…
Home Buyer Loses Earnest Money When Closing Fails
When financing falls through for a mortgage, the seller wants to keep the buyer’s earnest money. The buyer withdrew from the home buying contract but now the seller’s attorney says the buyer can’t get her earnest money back. Keeping the earnest money will compensate the seller for taking the property off the market while the financing was pending.
Posted in Home Buying
Tagged closing, contracts, down payment, mortgage lenders, mortgage loan
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