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If a lender turn you down do they suppose to refund you your ernest money?

  • September 01 2013 - Lakeland
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Answers (4)

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Check your contract and speak with your agent.  The longer you've been under contract, the less chance you have of a refund.  Without knowing the details it is hard to help. 

Don't give up if one lender turns you down.  Keep trying if you love the house.  Also, have a clear understanding why you were turned down.

Good luck!

  • September 09 2013
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Justin hit it the nail right on the head... You need to check your purchase contract with your Realtor and see what can be done to get your earnest money back-

Also, have you tried other lenders to secure financing?

What was the reasoning for the fall out??  If you really want the home, you should attempt to find other financing-

Good Luck!
  • September 03 2013
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Justin is correct, you need to talk with your realtor and see what your options are for getting your earnest money returned.
  • September 03 2013
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The lender has nothing to do with earnest money. Most purchase contracts will contain a clause to return earnest money if you are unable to secure a commitment for financing. Read your purchase contract or speak to your real estate agent.
  • September 01 2013
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