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Can Countrywide take our home loan away after they said weve been approved!?

April 26, 2017Approved away Business Countrywide Estate Finance home loan renting said

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Can Countrywide take our home loan away after they said weve been approved!?

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Unfortunately, yes they can legally renig at this point. Until you have signed your loan documents, nothing is certain. It is only then that you may have some legal recourse, as both parties would be legally bound to abide by the terms of the contract and/or agreement. I’m not sure if you’re aware of this, but when applying for a home loan, a late payment of any kind is viewed very poorly….even if 18 months ago. It doesn’t matter to them, especially in these turbulent times with our economy. The mortgage company has to protect itself. The only people being approved for loans right now, are ones with perfect credit and no deficiencies of any kind. The good news is that Countrywide is one of the harder companies to be approved for a loan. With that said, I would shop around. Find a good and honest broker (yes, they do exist) who can help get your boyfriend approved for an FHA loan or something along those lines. FHA loan guidelines are not as stringent vs. dealing directly with a bank.