Obtaining a loan is not as easy as it used to be. A bank can change its mind about making the loan even after the commitment letter is issued. The "funding contingency" is a useful contract tool to protect the borrower from disaster

Truth Be Told

Ron Gitter

Rules of Reason: Always Include a Funding Contingency

FEB 12, 20166 MIN
Truth Be Told

Rules of Reason: Always Include a Funding Contingency

FEB 12, 20166 MIN

Description

Obtaining a loan is not as easy as it used to be. A bank can change its mind about making the loan even after the commitment letter is issued. The "funding contingency" is a useful contract tool to protect the borrower from disaster