How do I get my money if I terminate the escrow agreement?

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We try to get our money trust account to miss because the mortgage broker to guide us on our payment. We told him when we started the loan payments that we needed to make $ 1200 per month, he said, the best thing he could do was $ 1250 Two weeks after closing, we find that payments go to $ 1,380, which we do not have a budget for his. Realitor we said that we go out, because the change of the payment and they tell us we are wasting our money and trust account to pay a number of others. How can we get out of this without a lot of money. We tried to use our own bank and get a loan with VA / 0 down and no PMI. Realitor said the House would not go to VA and refused to change the VA documents. Then she sat down at their banks, which could give me one w / 0 down loan. Well, the bank went bankrupt before we can conclude (we never signed the papers with new). We went through four extensions to the contract, and we’re just sick of this bank and realitor.Als we could go home, we change the house buying a house should sighned, but since they dropped the ball We have not closed at the time of the change in taxes there. Therefore increase our payments, but it’s not my point. We left because we are not budgeted for the increase. We have nothing, but had problems with this realitor since day one. Eg When we got home we told them we wanted to bid $ 150, and realitor said he was already an offer of $ 150, just discovered they had no other then to protect us check the house one day and found a hole in the ceiling, we asked the realitor about it and she said that the hole was there alll together. (We knew he was not.) She said she had pictures, but would not show us. A few days later we returned and the hole has disappeared. We feel deceived and threatened injustice. Our buyer’s agent will continue with the sellers agent and tell him, kept our bank Informationen.Die it is not locked in the rate, because it is, prices would drop. They went instead. We ask him repeatedly to lock it and he said he was waiting for a better rate. The Bank, we have a contract with sighned not cut, then we should not have to sign a new contract or has been transferred. So why do not we recommend realitor traditional bank loan rather than ours we try on this bank. If it is early this benifiets sapposed Bank is not to say. Well, if I can get a loan from the bank regection due to my lack of employment is my money? What’s different rights, they can nail me with? (If you have a backup offer on the house.) Can you pay their commission if the offer of another property?

4 Comments
  1. Reply
    If you only knew
    May 15, 2011 at 1:44 am

    VA Home Loans and Fair Housing Laws
    Federal law requires lenders who participate in VA home loans to obey Fair Housing Laws. The law prohibits a great many things including refusal to negotiate, false claims that a residence is sold or otherwise unavailable, and discrimination in financing. Chances are you won’t be confronted by these problems, but in the event you do experience something you perceive to be in violation of Fair Housing laws, you can report the activity to your local VA office. The local office will investigate your complaint, which you file by filling out VA Form 26-8827, Housing Discrimination Complaint form.

    You need to report this Realtor. It’s unethical what she told you. All homes are VA loan qualified. The lender may have limits on the amount of loan they could give you, but their isn’t a home in the United States that is restricted from the option of a VA loan. Most likely they have been dealing with you for all of this time now and don’t want to start over. That’s not your problem and it’s their job to accommodate. If they really want the house to close, then they should do the VA loan.

    If I was you I would report the real estate agent. They need to learn this lesson, so no one else falls victim to her lies.

    As for your Earnest Money It may be wise to have your situation heard by a Real Estate Attorney in your jurisdiction. You should do this immediatly so that you don’t lose important rights. Many lawyers offer a free or low-cost initial consultation just for the purpose of determining whether they can help you. Don’t be afraid to contact them. Good Luck!

  2. Reply
    Dawni Do Right
    May 15, 2011 at 2:12 am

    A bucket o worms. There is no reason a house would not finance VA if it will finance by other means. VA is not that much different from FHA in that a heat source is required for each room and a pest inspection would be required that MUST be paid by the seller & not the buyer.

    VA zero down or any other zero down program would yield a higher payment because of the fact there is zero down. Nothing will change that unless there is a down payment.

    Some alternatives might be Nehemiah or AmeriDream where the seller gifts you the down payment of 3%.

    Typcially for every $ 1000 in a mortgage, it costs you another $ 6 in monthly payment, so you would need $ 30,000 in gift funds for down payment to achieve hte reduction from $ 1380 monthly payment to $ 1200.

    Your agent should have stipulated in your finance addendum that your purchase was subject to you obtaining a loan for a monthly payment NOT IN EXCESS of $ 1200 if this is what you expressed in the beginning of your journey.

  3. Reply
    Landlord
    May 15, 2011 at 2:43 am

    From what you stated you will not be able to get your money as you defaulted on the sale. This was a choice you made. The extra 130 a month is likely a tax and not really associated with your mortgage.

    You could very well find yourself with a law suit and you owing more then your earnest money when this is said and done. You will be needing an attorney, you may as well hire him now, maybe he can settle this without going to court.

  4. Reply
    Real Estate Guy
    May 15, 2011 at 2:57 am

    I’m betting that interest rates increased from the time you spoke with the lender until the time you locked in. YOU should have locked into the rate at 1250. It’s no ones fault that rates increased – except you didn’t lock in.

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