QUESTION

What information can a mortgage company share with the Seller's Agent

Asked on May 31st, 2017 on Real Estate - New York
More details to this question:
What information about a buyer's loan can the mortgage company give to the seller's agent? I am in the middle of a renegotiation since the house did not appraise and was offered to buy lender's points to lower my closing costs. However, it will increase my interest rate and therefore my monthly payment. Can my mortgage company disclose these options to the seller's agent? Can a mortgage agent at the company that I am not working with discuss the details with the seller? Is it legal for moprtgage agents that I am not working with at the mortgage company be informed on the details of the transaction?
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1 ANSWER

Estate Planning Attorney serving New York, NY
1 Award
There is no law that prevents these discussions but I do not see the benefit if you do not want to negotiate this point.
Answered on Jun 01st, 2017 at 6:20 AM

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