2007-06-21 11:24:37 · 3 answers · asked by tootsa47 1 in Business & Finance ➔ Renting & Real Estate
Talk to your lender. Many lenders can roll the closing cost into the mortgage, or ask the seller to cover them. There are many ways..just ask your lender. He wants to keep the deal together too!
2007-06-21 13:25:44 · answer #1 · answered by RealtorV 3 · 0⤊ 0⤋
If you cannot pay the closing costs for the mortgage/transaction, you're not going to buy a home. These expenses are expected and demanded to be paid prior to or at closing.
2007-06-21 17:15:16 · answer #2 · answered by acermill 7 · 0⤊ 0⤋
Yep, and you may be sued by the seller for damages unless your contract calls for forfeiture of your earnest money as liquidated damages. At the very least you'll lose your earnest money.
I'm curious as to how you got past the underwriter without enough cash for closing, though. Did you have some sort of emergency?
2007-06-21 11:28:20 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋