Post CD and not bribing 20% down

[Eric Jones]

I recently bought a home and the seller brought credits to the table. This was a 20% down second home and the credits ended up making it so I did not need to bring the full 20% down to the table. However, the bank didn’t catch this (and I didn’t realize it was a rule I had to bring 20% and seller credits couldn’t be part of this). We are several weeks post closing, and the bank is calling saying that I need to bring additional money to the table. They want me to essentially pay the difference to them, and then they will reduce my loan by that amount.

 I am waiting to hear back from my lawyer. It’s around $2,000. I would obviously rather have that cash then the loan reduction. Are there any other solutions to this?

Thanks!