We are under contract on a house where both the seller-signed listing and purchase agreement state the mortgage is assumable at 2.99%, which we now know was a gross misrepresentation and knowingly done by the sellers. It also represents negligence on the part of the listing agent. This is in the Michigan. If we move forward with the purchase at today’s rates, we will end up paying hundreds of thousands of dollars more in interest. Is there any legal recourse we could take from this? Or does this provide us any unique negotiating opportunities if we choose to move forward?
Read more at https://www.reddit.com/r/RealEstate/comments/1ch7u5v/sellers_knowingly_misrepresented_mortgage_as/?utm_source=ifttt
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