Ohio  |  Real Estate Law

Legal Question

Asked on: 10/29/03, 6:49 pm

Financing was changed 2 days before closing, can I cancel Contract

Purchased a home in August. Required financing approval within 14 days, which was done. Loan was based on a first mortgage (38K) and a second mortgage (131K). Current residence has not sold.

Two Days before closing I find out the loan values have been changed to a first mortgage of (38k) but the second was reduced to (112k). Can I cancel the contract to purchase home

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