I am due to close escrow on a house on July 17. Our contingency period expired on June 29 and we signed a contingency removal form at that time. I was under the impression that our loan rate was locked in at the beginning of our escrow period, however, I just found out from our loan broker yesterday that the rate was never locked and is now .5% higher than we have planned and budgeted for. In addition to the higher rate, furloughs just went into effect for defense department employees. I will be taking a 20% pay cut for at least the rest of the fiscal year, and possibly much longer. Under those circumstances, the home is no longer affordable to us. Do I have any options for backing out of the contract due to financial hardship at this point without forfeiting my earnest money deposit? Thank you.