Underwriter won't allow me to be reimbursed
House has termites and electrical problems. Seller doesn't have money to rectify both problems. Seller agrees to repay me. An addendum is signed by both parties. Underwriter has this addendum which states, at closing, the seller will reimburse me for the items I paid for. Everyone is happy.
Day of closing, final HUD sent to underwriter and she decides I am not allowed to be reimbursed for the expenses I came out of pocket for, and had a signed addendum stating I would be reimbursed. I asked her why, and I quote, "because I said its not allowed"....why, oh, why underwriter? $2,000 lost because she said so?
Is she allowed to do this? If not, what course of action can I take after the closing? The house should close later today.
Most Popular Reply
I may have missed something, but isn't it at least POSSIBLE that the seller will cut you the $2000 check anyway (I may be naive, but I assure you, I would!)? There ARE still people left with enough principles and integrity that they will honor a deal even if legally they don't absolutely have to. Can't hurt to ask
@Account Closed