My question involves a condominium located in the State of: NY
I obtained a GFE, went through the application process, and was approved for a new/refinanced mortgage based on my excellent credit, etc. A few days later, however, I was declined based on what they said was 'poor' financial status of the condominium building (62% are investor owned, 21% owned by 1 entity, 17% delinquint). Mortgage company said that Freddie Mac would not issue a waiver.
Is there anything I can do to get this application approved by this mortgage company (e.g. talk with my building's management company)?
If not, is there any way I can get my application money ($500) back from the mortgage company since it was the building and not me at fault?
thanks for the much needed advice