truth in lending disclosure statement?
we buying a house in linden NJ, our broker told us that the offer is underwriting and he is waiting for the responds from the lenders. but today we receive a letter ( bunch of paper to be sign and other explanations) from PLAZA HOME MORTGAGE, INC we confuse because one of the papers says… ” Its is a pleasure to notify you that your application for a first mortgage loan has been approved subject to the following matters set forth below ” does this means that we are really approved isn’t the broker who is suppose to receive the “mortgage approval” answer? im very nervous about it because the closing date is Feb. 5 2010
That is very confusing but no, it does not mean your loan was approved. It means they have a bunch more questions they want to ask and need more documentation.
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