[Big Guy1092]

...decide not to buy house? Hi. We are looking at a house and have it under contract. We did the inspection and turned in the repair list, so it is too late to outright cancel the contract and we will lose our earnest money. We have already signed all the paper work for the mortgage and there is a clause that says if loan is approved and we do not close it we will be charged a 1% fee payable immediately.Do Mortgage Companies ever invoke this clause? We have learned somethings recently about the house that make us nervous.