Lennar HomesLennar Homes, Orlando Division I gave them almost $ 21,000 for a new house, they said I did not qualify for loan and kept my money. Maitland Florida

I believe the person writing in this forum is referring to "you" as anyone who may have advise in how to proceed. I might be wrong, but that's what I got from it.

When you purchase new construction, there is usually a clause in your contract to the effect that you have a certain amount of days to get prequalified for a mortgage. If something happens where you were qualified at contract signing, but when the house is ready to close you are no longer qualified, you lose your deposit. You see, they have built the house to your specifications and now cannot sell it to you so they are entitled to keep your deposit.

Years ago, if someone qualified for a mortgage at contract signing, they could usually qualify for the mortgage at closing too, unless the home buyer did something to his own credit that caused him to be no longer qualified. Construction companies had that clause to cover themselves in case the home buyer signed the contract, then defaulted on his creditors which caused him not to get the loan at the end.

I guess they still have that clause. Today, it could very well be the fault of the mortgage terms changing rather than your fault. If the economy was better and they could sell the home they built for you right away, they may consider returning your deposit. However, with today being what it is in the construction and mortgage industry, I don't know that they will. Have a look at your contract and see what it says.

Also, after you are pre-qualified and your home is being built, I don't think the mortgage companies even start to look at your mortgage qualifications again until they start the "ball rolling", 30 or 60 days before the home is ready to be closed.

You hope to hear from WHOM soon ?????????????