We placed an earnest deposit of $1000 to purchase a house in Massachusetts.The contingencies were mortgage and inspection. The day after our offer was accepted, our mortgage company said they could no longer approve the original loan amount we were approved for. We notified buyer and seller broker that same day and we were told we would lose the deposit. Is this correct?August 04 2013 - Boston00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.