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All Forum Posts by: Jamie Rosen

Jamie Rosen has started 1 posts and replied 26 times.

Post: Lender backed out, earnest deposit lost

Jamie RosenPosted
  • Property Manager
  • Phoenix, AZ
  • Posts 31
  • Votes 5

@Scott Anderson you are right, I should know these things. This was my first deal... lesson learned.

Post: Lender backed out, earnest deposit lost

Jamie RosenPosted
  • Property Manager
  • Phoenix, AZ
  • Posts 31
  • Votes 5

@Frank Wong Thank you for your response. The lender made it sound like he checked the home out himself so we assumed he knew it was manufactured.

Post: Lender backed out, earnest deposit lost

Jamie RosenPosted
  • Property Manager
  • Phoenix, AZ
  • Posts 31
  • Votes 5

@Michael Noto COE was supposed to be Feb 21st, but the lender is saying his POF letter was expired.

Post: Lender backed out, earnest deposit lost

Jamie RosenPosted
  • Property Manager
  • Phoenix, AZ
  • Posts 31
  • Votes 5

@Khaled Helmi it was a HUD deal so I didn't write the contract. This was my first wholesale, learning experience.

Post: Lender backed out, earnest deposit lost

Jamie RosenPosted
  • Property Manager
  • Phoenix, AZ
  • Posts 31
  • Votes 5

@Kyle J I didn't write the contract, it was a HUD deal. So unfortunately we lose.

Post: Lender backed out, earnest deposit lost

Jamie RosenPosted
  • Property Manager
  • Phoenix, AZ
  • Posts 31
  • Votes 5

Offer accepted, earnest deposit paid, contract signed, escrow opens..... lender backs out. All because he didn't realize it was a manufactured home. Yet we lose the earnest deposit, does that seem fair?!