Co op interview and financials

I've been going through a deal which made my life a living hell. I signed a contract, being sure I could raise the down payment, but it fell through. Since the contract said I had to get financing approved of 80% or I lose the escrow money, so I got the money from family. My mortgage was approved so I'm safe on that front. Now I have the board interview coming. My lawyer said that if the board... [more]

I've been going through a deal which made my life a living hell. I signed a contract, being sure I could raise the down payment, but it fell through. Since the contract said I had to get financing approved of 80% or I lose the escrow money, so I got the money from family. My mortgage was approved so I'm safe on that front. Now I have the board interview coming. My lawyer said that if the board rejects me, I get my money back. The board reviewed my package already, and I dont know whether they will ask me to close money in an escrow. If that's going to happen, I'm going to say no, simply because I don't have any money left after doing all the efforts to get the 20% down payment funds. Other than that, I'm planning to show good faith, but simply don't have any more financials to prove that I have liquidity of 1-2 years of maintenance. It's a very small co op and its unclear what is their exact policy. my broker and lawyer are terrified by the seller's lawyer and broker, who wanted to build a case to take my escrow money back. After being in literally hell, for the past 4 months, I'd be much happier if I could have walked out of this deal. A financial requirement from the co op might be a way out. Is there anything I should be considering given the case, and the harsh lawyers? [less]