My brother an independent contractor inteneded to purchase a home through Trend. He used the mortgage company owned by Trend (Home Show Mortgage.) They told him he was approved, he provided $2000 earnest money. When it was time to underwrite the loan, they wanted paystubs with YTD amount. He is a contractor and is paid unlike a "paycheck". He had tax returns for the last two years, etc. They would not underwrite the loan and cancelled the contract on 12/15/07. His earnest money was never returned and on 2/1/08 Trend Homes filed for Banktruptcy. They sent my brother a letter saying... Sorry, it's locked up in the courts and if you read your contract... It's okay to do that!!!
So now he would have to hire an attorney to get his $2000 back? Seems like fraud to me!!
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