Thread: Is this Illegal?

Originally Posted by manny1975

about 3 months ago my wife and I were trying to buy a house and we submitted our offer as an FHA. They did not approve us because of the type of loan so we went Conventional. We were rejected yet again because the company and realtor sent us a letter back stating they wanted us to have a rehab loan. I have good reason to believe that the house was not sold on a rehab loan since the company in charge (countrywide) made it seem that they wanted us to get our loan directly through them, the manager of the countrywide called me personally and was really discouraging making me believe that our loan officer didnt know the back end of what was wrong with the house. What he claimed was wrong was entirely false.

My question is there a way to find out how the house was sold? And if it was through them is that illegal since they rejected us even though we were ready, willing, and able?

No, it is not illegal the seller can choose to except or reject an offer on what type of loan the purchaser will be using. If you want more detail on this and how to handle it legally you might try posting your question in the legal forum. You can find the link on the left hand side of the forum beneath the ads by google.

ask a local realtor to look up the sold details on the local MLS and see what kind of loan was used... look in your county public records for the warranty deed/mortgage/lender info... it all gets recorded
I'm not going to comment on Countrywide right now as I'm extremely upset with them screwing over a buyer of mine but with everything, it all depends on the person/peopel you're dealing with not the main company...
ohh and if you do ask a realtor for this info, make sure you thank them by buying a house through them..

Don't waiste your time researching it... In the end a selle can accept or reject any offer they choose to. In the end, they may have given in and accepted something very similar to what you had offered them before. They have the choice and sometimes sellers just don't realize a good thing until its gone.

Originally Posted by manny1975

about 3 months ago my wife and I were trying to buy a house and we submitted our offer as an FHA. They did not approve us because of the type of loan so we went Conventional. We were rejected yet again because the company and realtor sent us a letter back stating they wanted us to have a rehab loan. I have good reason to believe that the house was not sold on a rehab loan since the company in charge (countrywide) made it seem that they wanted us to get our loan directly through them, the manager of the countrywide called me personally and was really discouraging making me believe that our loan officer didnt know the back end of what was wrong with the house. What he claimed was wrong was entirely false.

My question is there a way to find out how the house was sold? And if it was through them is that illegal since they rejected us even though we were ready, willing, and able?

Sounds like this was a bank owned home and the seller, the bank, can pick and choose if they want to sell you the home or not...I wouldn't waste your time as there are plenty on the market to choose from

You must have noticed the various kinds of discounts that many developers are offering to persuade buyers. Most of them are just marketing gimmicks. In actual there is no reduction in the real value of the flat. There may be various expenses that the buyer is forced to incur during the possession of such discounted properties.
In Thane, a developer was apparently offering a car with each sale. The promotions also claimed home loan interest rates at 8 per cent through two cooperative banks. The customers later found that the car was a bumper prize. Worse, the 8 per cent interest rate was only for the first few months!
No Developer offers discount below the base cost, which includes the cost of land and construction. However, developers do offer value-additions and incentives to prospective buyers to speed up the willingness to buy. When looked at closely, these incentives do not have any significant monetary value. It

Sad to here that...