Can Earnest money be returned? See scenario below.?

Looking to buy a condo for my mother in law, I put down $ 2,500 as earnest money.

– The clause from Pulte Homes had a 15 days period for returning the earnest money in case we decided otherwise.
– In order to receive their incentive package we needed to sign with Pulte Mortgage.
– In order to expedite the process and because I have a 743 credit score I went through with the loan application as the borrower.
– Later found out that I couldn’t be a borrower in the loan because I was living a few miles away from the condo and could be interpreted as an investment.
– After that, my mother-in-law was set as the borrower. She’s retired, live in a property overseas, has no debts (none) and collect alimony from her ex-husband.
– The interest rate offered to my mom-in-law was 7.375% for a 30yr fixed loan with PMI and with a discount point fee.

At that point Pulte didn’t offer further assistance. Consequently, she didn’t want to proceed with the closing.

I’m currently attending a CSU here in CA and the tuition here per quarter is $ 1115 and I have not paid it fully….I still owe about $ 248 but my parents do not have any funds because they’re paying the mortgage and about $ 1500 worth of utility and credit card bills…thankfully he have not skipped paying any credit cards and will not try to skip any anytime soon….

I’ve already borrowed the maximum subsidized and unsubsidized loans and I still need $ 248 to pay or the school would drop my classes this summer quarter…I am taking chemistry (the 3rd part of general chemistry sequence) and Logic…and if I get chem dropped, I wont get the 5 unit I need and will have to take it again next spring (not until April 2009)…..since the finals is about 3 weeks from now, I am not sure if I can pay it by sept 1 (chem final)…

I can’t EVEN apply for private loans because my parents’ credit score is below 500 and the lender requires a credit more than 700….I have no qualified cosigner…and I am not qualified for perkins loans…since it’s summer, the school does not offer cal grants…

WHAT AM I SUPPOSE TO DO? I DO NOT WANT TO TAKE CHEM NEXT SPRING since I am so ready to take Organic this fall (Chem major)….although I am all set for next 3 quarters due to the $ 2772 cal grants offered……

NO JOB!……it’s friggin 3 weeks away!

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