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Commitment Letter

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nodonnell

Junior Member
What is the name of your state (only U.S. law)? Connecticut
I have a commitment letter from a lender with 4 conditions to be met. I satisfied all conditions, then they asked for more conditions to be met. Each time I satisfy a condition, they come up with another. This has been going on for 3 weeks now. Friday they said the were going to deny my loan because they discovered an overdraft on my checking account. ( the overdraft was covered by a program I belong to with the bank). Do I have any legal rights? Did the commitment letter not mean anything?:mad:What is the name of your state (only U.S. law)? CT
 


Zigner

Senior Member, Non-Attorney
What is the name of your state (only U.S. law)? Connecticut
I have a commitment letter from a lender with 4 conditions to be met. I satisfied all conditions, then they asked for more conditions to be met. Each time I satisfy a condition, they come up with another. This has been going on for 3 weeks now. Friday they said the were going to deny my loan because they discovered an overdraft on my checking account. ( the overdraft was covered by a program I belong to with the bank). Do I have any legal rights? Did the commitment letter not mean anything?:mad:What is the name of your state (only U.S. law)? CT
Banks (particularly in the current climate) like to do business with people who can properly manage their finances.
 

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