Mortgage Amount Shrank?
I have a mortgage being processed with Emery Federal, a subcontractor. The original company that they were using went under while my loan was in being processed. I had to be swapped over, and approved with Chase instead. The original company was financing at a 106%, while Chase will only finance 102% according to my mortgage officer. What it boils down to, is I have gone from getting my earnest money back, to having to pay $ 2200.00 dollars. My question is, do I have a leg to stand on with having Emery Federal credit me money to cover the difference? It was not our fault the company went under, and the paperwork we signed states all the above information, at 106% and no money at time of closing. Thanks!