What are my options when final loan documents are different from my commitment letter?


Your options are: (1) Sign the loan documents as they currently exist. (2) Sign the loan documents as they currently exist under protest. (3) Don’t sign the loan documents and demand loan documents whose terms honor your commitment letter.

All of these choices should be reviewed with a real estate attorney. If you choose numbers 2 or 3, you should hire a real estate attorney to advise and represent you. The result from actions 2 or 3 depend on your attorney’s ability, your contacts, your importance to the lender, your ability to negotiate, and your strategy.

Knowledge Tags: Financing, Funding, Loan