Sun 22 Feb 2009
$1.5M condo on $20K income? Prospective buyers lose $175K in Bellevue
Posted by Marlow Harris under Seattle
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Six immigrants who were prequalified for huge mortgages are suing Bellevue Towers and JP Morgan Chase Bank after they lost a combined $174,050 in earnest money. They allege the preferred lender put down false numbers for their income, which made it possible to prequalify but not to qualify for the actual loan, resulting in the loss of their earnest money.
However, there may be more to this story than just the facts put forth from the plaintiff’s lawsuit and the resulting news article in The Seattle Times. Read the comments for some surprising information about the complainants in the suit.
