Updated almost 11 years ago on . Most recent reply
Earnest Money on Purchase Agreements
I need to know if I can get my Earnest Money Back on a pending Real Estate Deal. Pertinet to the deal and to avoid a long scenario. I paid $500 to the Agent of a seller based on a pre approval letter from my Lender. The purchase agreement was subject to getting a FHA 203K Loan. Now a few days before the closing, the Lender claims my income has to average out a certain amount over a period of years. Unlike a conventional Loan, my income is not averaging out high enough for a FHA 203K (Acquisition Rehab) Loan. Can I move on and ask for my Earnest money back?