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breaking contract/ mortgage estimates

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  • breaking contract/ mortgage estimates

    I was in the process of buying a home from a real estate/investment brokers. I signed a contract. However,they the mortgage estimates have come back at an amount that I can not afford. I have 7 days to cancel the contract which has to be done in writing. Do I also have to speak to them and tell them orally because they wanted the house to close on Tuesday? or do I need to get an attorney?

  • #2
    re: breaking contract/ mortgage estimates

    Give the written notice and call to confirm. Keep all records of your calls or even have witnesses if you suspect they may not act properly about this.

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