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Aug 13th, 2007, 11:50 PM
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#1 |
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Builder contract default clause
Builder's contract state that I am in default of contract and must
pay 5K if I am approved of mortgage loan and do not accept the loan. Can they legally make me pay 5K because I don't want a mortgage payment I cannot afford, my debt-to-income ratio is 42%, but the builder approve debt-to-income ratios up to 50%. |
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Aug 15th, 2007, 07:40 PM
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#2 |
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Top Level Member
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Jan 6th, 2009 01:06 AM Join Date: May 2007
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Re: Builder contract default clause
It would have to be a reasonable and standard mortgage or you can argue that that would not apply.
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Aug 15th, 2007, 07:40 PM
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#3 |
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Top Level Member
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Jan 6th, 2009 01:06 AM Join Date: May 2007
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Re: Builder contract default clause
World Law's lawyers could also probably intervene and help resolve this if need be. You may email them on the home page.
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