Ribbon Home isn’t a subscription, so canceling it doesn’t work like clicking “unsubscribe.” To cancel Ribbon Home, you contact the company in writing to withdraw from its cash offer program before you close on a house, and if you’re seeing electronic charges you want to stop, you place a stop-payment order with your bank. What that looks like in practice depends on how far along you are.
What You’re Actually Canceling
Ribbon Home is a short-term loan that lets you make a cash-backed offer on a house. You get pre-approved, use Ribbon’s money at closing, and refinance into a conventional mortgage afterward. The cost is a one-time origination fee of 1% to 1.5% charged at closing, plus standard lender fees.1Ribbon Home. Competitive Cash Offer Loans For Homebuyers
There is no recurring monthly bill to switch off. “Canceling” almost always means one of two things: withdrawing from the program before you close, or stopping a charge that has hit or is about to hit your account.
Withdrawing Before You Close
If you’ve been pre-approved but haven’t yet closed on a property, contact Ribbon directly and tell them you’re withdrawing. You can reach the company at:
- Phone: 1-877-292-7350
- Email: contact@ribbonhome.com
- Mail: 6060 N. Central Expy, Ste 500, Dallas, TX 75206
Identify yourself with the name and email on your account, reference any property address tied to an active offer, and state clearly that you want to withdraw.2Ribbon Home. Ribbon Home Joins Hurst Lending – Smarter Home Financing
Put the request in writing even if you also call. A phone call gets things moving, but an email or letter is what protects you later if there’s any dispute about when you canceled. Keep a copy.
If You’re Already Under Contract on a House
Pulling out is more complicated once Ribbon’s funds are backing a live offer that a seller has accepted. At that point you’re not just leaving a program. You may be breaking a purchase contract, and the contract with the seller, not Ribbon’s terms, governs what happens to your earnest money deposit.
Read the contract before you do anything else, paying attention to contingency deadlines and the default clause. Your real estate agent is the right person to consult, since a live transaction also involves the seller, the listing agent, and often a title company. Contact Ribbon as early as possible. The further along the deal is, the more parties are involved and the harder it becomes to unwind cleanly.
The 1% to 1.5% origination fee is charged at closing, so if you withdraw before then you generally haven’t been billed for it. Appraisal, inspection, or title search fees you already paid are a different story and typically aren’t refundable.
Stopping Charges Through Your Bank
If a charge from Ribbon shows up and you want it stopped, federal law gives you a direct route that doesn’t depend on Ribbon’s cooperation. Under Regulation E, which implements the Electronic Fund Transfer Act, you can stop a preauthorized electronic payment by telling your bank at least three business days before the next scheduled transfer.3Office of the Law Revision Counsel. 15 U.S. Code 1693e – Preauthorized Transfers
An oral request works, but your bank can require you to follow it up in writing within 14 days. If you don’t send the written confirmation, the oral stop-payment expires.4eCFR. 12 CFR 205.10 – Preauthorized Transfers
The Consumer Financial Protection Bureau recommends a two-step approach. First, tell Ribbon in writing that you’re revoking authorization for any further charges. Then contact your bank separately to place a stop-payment order. Once both are in place, any charge Ribbon initiates after that counts as an error, and you can dispute it with your bank for a refund.5Consumer Financial Protection Bureau. How Do I Stop Automatic Payments From My Bank Account
Banks typically charge a fee for stop-payment orders, often between $15 and $35. Ask before you place the order.
If Ribbon Doesn’t Respond
If your calls and emails go unanswered for a week or two, escalate. File a complaint with the Consumer Financial Protection Bureau at consumerfinance.gov. The CFPB forwards the complaint to the company and tracks the response, which often produces movement when direct outreach hasn’t. Your state attorney general’s consumer protection division is another option.
Don’t wait on Ribbon to stop the charges themselves. Place the stop-payment order with your bank in the meantime. Your right to halt preauthorized transfers doesn’t depend on the company answering the phone.
After You Cancel
Save Ribbon’s cancellation confirmation indefinitely. Watch your bank and credit card statements for at least 60 days. If a charge appears after you’ve canceled, dispute it with your bank right away and reference your written cancellation and Ribbon’s confirmation.
If you were mid-transaction with a real estate agent when you withdrew, you generally don’t owe your buyer’s agent a commission on a deal that didn’t close, since agents are typically paid from a completed sale. Check the buyer-broker agreement you signed for any separate cancellation fee, because terms vary. Appraisal, inspection, and title search fees you already paid are usually gone once the work was done, regardless of whether the purchase went through.