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When you wrote up the contract to purchase your dream home, Your offer was for $1,200,000; closing in 90 days, contigent upon obtaining a mortgage

When you wrote up the contract to purchase your dream home, Your offer was for $1,200,000; closing in 90 days, contigent upon obtaining a mortgage loan of $800,000 at 3.0% for 30 years. Mortgage loan rates suddenly spiked and you will have to pay 4.2% for the loan. You're considering getting out of the contract. Can you do this

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