Post: mortgage contingency clause/prevailing interest rates

Posted by Kenneth C. Krause on 7/10/07

The printed "broker drawn" contract contained the phrase
"prevailing interest rate" in the mortgage contingency
clause. I claim this protects the purchaser and he need not
take a mortgage beyond the current prevailing rate range (
in this case 61/2- 7%. Any thoughts would be greatly
appreciated.

Posts on this thread, including this one

mortgage contingency clause/prevailing interest rates, 7/10/07, by Kenneth C. Krause.

Re: mortgage contingency clause/prevailing interest rates, 12/15/08, by steven.