mortgage lender is this legal ?

Discussion in 'Credit Talk' started by fun4u2, Mar 27, 2005.

  1. fun4u2

    fun4u2 Well-Known Member

    was serching the various laws on FTC wasn't sure if this applies.

    a builder is given a $ 2k ernest dep of funds to hold the lot .

    a purchase agreement is to be signed in a few days.

    builder then tells consumer that they can not use the finance company that they are already pre qual with they now must use the builders in house financing OR put ten perent down to purchase the home.


    is this legal I find it to be on the line of discrimination?

    plz help anyone thx
     
  2. pd11604

    pd11604 Well-Known Member

    sounds like "predatory lending" practices. I would take my money back and look elsewhere
     

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