Lock-in Troubleshooting
The best thing you can do to successfully settle your home loan before the lock-in expires is to understand the lender’s requirements and making sure you provide all necessary information in a timely manner. However, if you find yourself in a position where the lock-in period has expired and the loan has not been settled there are some things you can do. If you feel that you have held up your end of the bargain and if you believe that the lapse was due to delays caused by the lender or someone else involved in the loan process you should try to come to a mutually beneficial agreement with the lender. If that doesn’t work then you may report them to state or federal regulatory agency. A lenders action can be viewed as improper or even illegal if the lock-in terms were impossible to fulfill or if they did not process your loan application with due diligence.
