What is the name of your state? New jersey
I signed the contract to buy a house, but now I lost my job. We have not closed the house yet. I cannot afford to buy the house as I am living on my savings right now. I informed the mortgage bank about my job loss, but they said they will not give a denial letter because my financial history for the recent years is good. If I do not find a job within a few months, I won't be able to make the mortgage payment, so I do not want to buy the house. Can the seller take any legal action against me?
Thanks
I signed the contract to buy a house, but now I lost my job. We have not closed the house yet. I cannot afford to buy the house as I am living on my savings right now. I informed the mortgage bank about my job loss, but they said they will not give a denial letter because my financial history for the recent years is good. If I do not find a job within a few months, I won't be able to make the mortgage payment, so I do not want to buy the house. Can the seller take any legal action against me?
Thanks