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Real Estate Law
Two Homes, Two Mortgage Contingencies, Two Loan Applications, but only One Loan, Who Wins?
Topic: Real Estate Transactions
The Appeals Court of Massachusetts in Alfeo v. Dinsmore, 68
App. Ct. 249 (2007) found that a mortgage contingency clause contained in a Purchase and Sale Agreement must be read literally. Therefore, when the clause stated that an “application to one financial institutional lender shall satisfy Buyer’s Diligent efforts under the agreement” the Buyer only needed to apply to one lender. The fact that the Buyer simultaneously applied for, and received, a separate loan to purchase a separate
home was irrelevant.
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From Meltzer BLawG Offices posted 2007-03-05.
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I financed a house and let my son and his family move into it. He was to make the payments on the house until he could avoid to buy the house from me at the price of the remaining principle on the mortgage. He has lapsed
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How can a bank charge extra fees however refuse to give a reciept for the extra amounts?
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My mother passed, My father is still alive has a mortgage on their home but wants to give the property to his oldest daughter. There is a lean on the house from a previous incident (lawsuit-Auto Injury,How can he give hi
Just as in any transaction the transfer of deed will not be able to be completed...
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