Went into contract on 2 properties with the intention of renting one out than selling so that I could use the profit to bring down the home we were to owner occupy. Market was getting bad and my our income was declining we reported this to our lender and they sent out a decline letter to Centex Homes. Home was barely in the framing stage when we notified them that we no longer qualified for the home loans. They insisted we breached the contract and kept our money. Offer made in 2&7 notified our income had changed and that our lender had Turned us down. Lender sent out notice of declination in 9. House was ready to move into in 3, we feel we gave ample notice of our situation. There own lender CTX declined us in 2 and we sought financing elsewhere.
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