[ARCHIVED THREAD] - Nightmare---Real Estate Help Needed (Page 1 of 2)
Posted: 5/15/2013 9:46:31 AM EDT
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Since I'm playing phone tag with everyone and can't do much else, figured I'll let Arfcom play lawyer here.
We just settled on our new house on Monday. Gorgeous home, good neighborhood, finally settled. Wife and I just got married 2 weeks ago. She still owns her condo and is being closed on May 31st(16 days from now). Our lender qualified us for the loan and we settled on Monday the 13th. Our realtor, lender, and underwriter were all made duly aware that the settlement for my wife's home is on the 31st. Today we get a phone call from the lender saying we have a problem. She did not realize my wife hadn't settled on her home yet, no HUD-1 available. Now she says our current loan is invalid, and we have to re-qualify under two mortgages. Our current loan is now considered in default. To qualify under two mortgages you need 6 months worth of mortgage payments plus your down payment. The $27,000 cash we put down is now gone as of Monday and we have nothing substantial left. I asked the lender where the fuck she got the idea that my wife had settled on her condo, she said from our moron realtor. I called him as well, he said he thought we had just taken care of it. HOW THE FUCK DO WE HANDLE SETTLEMENT AND SALES ON OUR OWN? I mean I have second nature, but dear god even I wouldn't know where to begin. Now we are waiting to see if the settlement can be moved up and taken care of right now, but we aren't optimistic about that. Point is, we've already begun moving in and occupying the new house. Now we are being told our lender and people on our side fucked up, and could potentially be taking a HUGE credit dent as a result, if not lose the home in the end. They were negligent with their records and now what we were qualified on my change. Anyone ever see this stupid shit happen before? 
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Are you in an attorney or title state? My first stop would be to the real estate attorney that closed the deal if there is one (but keep in mind that generally the attorney represents the lender during a closing, even though you pay for it). If you get no joy there i would stop by another attorney's office that likes to screw with people/other attorneys. What is happening is they screwed the pooch and now cannot sell the loan, if you were truthful which it sounds like you were then they might have to just eat it. |
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I'd think you'd have a good case if they tried anything on their end. Their lack of enforcement of their policies on their part does not equal default under the terms and conditions on your part UNLESS you were dishonest about it. Assuming that's the case then they have no leg to stand.
Sounds like the wire has gone through so they're trying to intimidate you to cover up their mistakes. With the other property settling so soon, I don't think you're going to see them do anything but wait and ask you to send them the HUD/settlement statement when it's done. ETA - Underwriters clear a loan to close which indicates that there are no outstanding conditions that are needed prior to doc signing. Someone greenlighted your loan to close without having that settlement statement or proof of additional assets/ability to afford both properties concurrently. That's their fault, no one else's. |
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"I've been totally up front and honest about everything. The fact that you guys didn't get it right when given correct info is not going to ruin my life or cost me money. Figure out how to make it work until the condo closes as we agreed or take it to a judge. Which do you think will cost you more time and money?" Posted Via AR15.Com Mobile |
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Since I'm playing phone tag with everyone and can't do much else, figured I'll let Arfcom play lawyer here. We just settled on our new house on Monday. Gorgeous home, good neighborhood, finally settled. Wife and I just got married 2 weeks ago. She still owns her condo and is being closed on May 31st(16 days from now). Our lender qualified us for the loan and we settled on Monday the 13th. Our realtor, lender, and underwriter were all made duly aware that the settlement for my wife's home is on the 31st. Today we get a phone call from the lender saying we have a problem. She did not realize my wife hadn't settled on her home yet, no HUD-1 available. Now she says our current loan is invalid, and we have to re-qualify under two mortgages. Our current loan is now considered in default. To qualify under two mortgages you need 6 months worth of mortgage payments plus your down payment. The $27,000 cash we put down is now gone as of Monday and we have nothing substantial left. I asked the lender where the fuck she got the idea that my wife had settled on her condo, she said from our moron realtor. I called him as well, he said he thought we had just taken care of it. HOW THE FUCK DO WE HANDLE SETTLEMENT AND SALES ON OUR OWN? I mean I have second nature, but dear god even I wouldn't know where to begin. Now we are waiting to see if the settlement can be moved up and taken care of right now, but we aren't optimistic about that. Point is, we've already begun moving in and occupying the new house. Now we are being told our lender and people on our side fucked up, and could potentially be taking a HUGE credit dent as a result, if not lose the home in the end. They were negligent with their records and now what we were qualified on my change. Anyone ever see this stupid shit happen before? You should have been dealing with the lender and not trust anyone and especially a realtor do the work. See when you do the work yourself you would have everything in writing |
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This...
(20 years real estate experience speaking) Each state has tweeks to their individual state law, so get connected with a R.E. specific attorney Right AWAY... You have the risk of (A) no place to live & (B) Being out the $27,000 so this is not a minor issue. Most will first consulation free, so they will tell you if you are boned without any recourse, or how much it may cost to get things set straight. Don't be shy to sue the Realtor if he fncked up That can recover legal fees and costs. Brokers have to carry insurance (Errors & Omissions) on their Realtors for just this situation. Good Luck |
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Quoted: I would do exactly nothing. (other than close on the condo asap) I would call a lawyer asap to prepare for shit storm. But technically you and the lender agree to and executed a contract. They are pretty much fucked trying to break it. edit: they will sue you for fraud stating you lied on your application about your debts. once your wife's condo is sold they will not be able to sue for that and therefore will not have a case.
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I am a real estate agent. Most agents are opportunistic idiots.
Get everything in writing. If it isn't written, it doesn't exist. Inform your agent and his broker that they are going to get to find out how good their Errors and Omissions insurance is. Call the title company. Tell them there is a problem and they are going to be dragged into it. After you have done the footwork with letters from everyone, get a lawyer. The agent, the title company, the brokerage, etc all have insurance. Help me understand one thing, are you in the new house yet? If you are you are safe regardless of what happens for several months. It's not easy getting someone out of a house once they move in. Also, did you borrow from a bank or did you go through a mortgage broker? |
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Guys always have your own attorney on top of the one representing the lender when doing RE transactions.... Absolutely Go ahead and contact one but no Attorney can force a lender or underwriter qualify someone for a loan they just deemed unqualified Talk to the sellers about renting the home for a couple weeks and close on it after the condo. Blows my mind why you did not just close after the condo its only a couple of weeks If I am missing something, they were approved What's the title say? |
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Since I'm playing phone tag with everyone and can't do much else, figured I'll let Arfcom play lawyer here. We just settled on our new house on Monday. Gorgeous home, good neighborhood, finally settled. Wife and I just got married 2 weeks ago. She still owns her condo and is being closed on May 31st(16 days from now). Our lender qualified us for the loan and we settled on Monday the 13th. Our realtor, lender, and underwriter were all made duly aware that the settlement for my wife's home is on the 31st. Today we get a phone call from the lender saying we have a problem. She did not realize my wife hadn't settled on her home yet, no HUD-1 available. Now she says our current loan is invalid, and we have to re-qualify under two mortgages. Our current loan is now considered in default. To qualify under two mortgages you need 6 months worth of mortgage payments plus your down payment. The $27,000 cash we put down is now gone as of Monday and we have nothing substantial left. I asked the lender where the fuck she got the idea that my wife had settled on her condo, she said from our moron realtor. I called him as well, he said he thought we had just taken care of it. HOW THE FUCK DO WE HANDLE SETTLEMENT AND SALES ON OUR OWN? I mean I have second nature, but dear god even I wouldn't know where to begin. Now we are waiting to see if the settlement can be moved up and taken care of right now, but we aren't optimistic about that. Point is, we've already begun moving in and occupying the new house. Now we are being told our lender and people on our side fucked up, and could potentially be taking a HUGE credit dent as a result, if not lose the home in the end. They were negligent with their records and now what we were qualified on my change. Anyone ever see this stupid shit happen before? Where did the lender and people on your side fuck up You should of been dealing with the lender and not trust anyone and especially a realtor do the work. See when you do the work yourself you would have everything in writing Not sure I'd take legal advice from someone who doesn't know the difference between "of" and "have". |
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Guys always have your own attorney on top of the one representing the lender when doing RE transactions.... Absolutely Go ahead and contact one but no Attorney can force a lender or underwriter qualify someone for a loan they just deemed unqualified Talk to the sellers about renting the home for a couple weeks and close on it after the condo. Blows my mind why you did not just close after the condo its only a couple of weeks If I am missing something, they were approved What's the title say? 
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Since I'm playing phone tag with everyone and can't do much else, figured I'll let Arfcom play lawyer here. We just settled on our new house on Monday. Gorgeous home, good neighborhood, finally settled. Wife and I just got married 2 weeks ago. She still owns her condo and is being closed on May 31st(16 days from now). Our lender qualified us for the loan and we settled on Monday the 13th. Our realtor, lender, and underwriter were all made duly aware that the settlement for my wife's home is on the 31st. Today we get a phone call from the lender saying we have a problem. She did not realize my wife hadn't settled on her home yet, no HUD-1 available. Now she says our current loan is invalid, and we have to re-qualify under two mortgages. Our current loan is now considered in default. To qualify under two mortgages you need 6 months worth of mortgage payments plus your down payment. The $27,000 cash we put down is now gone as of Monday and we have nothing substantial left. I asked the lender where the fuck she got the idea that my wife had settled on her condo, she said from our moron realtor. I called him as well, he said he thought we had just taken care of it. HOW THE FUCK DO WE HANDLE SETTLEMENT AND SALES ON OUR OWN? I mean I have second nature, but dear god even I wouldn't know where to begin. Now we are waiting to see if the settlement can be moved up and taken care of right now, but we aren't optimistic about that. Point is, we've already begun moving in and occupying the new house. Now we are being told our lender and people on our side fucked up, and could potentially be taking a HUGE credit dent as a result, if not lose the home in the end. They were negligent with their records and now what we were qualified on my change. Anyone ever see this stupid shit happen before? Where did the lender and people on your side fuck up You should of been dealing with the lender and not trust anyone and especially a realtor do the work. See when you do the work yourself you would have everything in writing Not sure I'd take legal advice from someone who doesn't know the difference between "of" and "have". Grammar shit |
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Guys always have your own attorney on top of the one representing the lender when doing RE transactions.... Absolutely Go ahead and contact one but no Attorney can force a lender or underwriter qualify someone for a loan they just deemed unqualified Talk to the sellers about renting the home for a couple weeks and close on it after the condo. Blows my mind why you did not just close after the condo its only a couple of weeks If I am missing something, they were approved What's the title say? Correct, we were completely approved, settled, got the keys and all. Two days later we get the phone call stating, "I'm sorry, I thought you already closed on the condo." It's been conveyed numerous times that the property settles on the 31st. While I realize it's not typical to time it out that far, that's the way it is. But for the lender to say, "the loan is now negated and viewed as default" is bullshit. To tarnish our financial reputation and reduce opportunities for years to come over their own negligence, I'm peeved. We are looking into a lawyer, I've also contacted the lender's branch manager, waiting for a call back as well. I'll be damned if we lose this house, and on top of it, ruin our finances. I have(had) an 823 score. My shit's together. And if this company makes a mistake and damages my abilities I'm going to ensure things are made right. |
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Guys always have your own attorney on top of the one representing the lender when doing RE transactions.... Absolutely Go ahead and contact one but no Attorney can force a lender or underwriter qualify someone for a loan they just deemed unqualified Talk to the sellers about renting the home for a couple weeks and close on it after the condo. Blows my mind why you did not just close after the condo its only a couple of weeks If I am missing something, they were approved What's the title say? Correct, we were completely approved, settled, got the keys and all. Two days later we get the phone call stating, "I'm sorry, I thought you already closed on the condo." It's been conveyed numerous times that the property settles on the 31st. While I realize it's not typical to time it out that far, that's the way it is. But for the lender to say, "the loan is now negated and viewed as default" is bullshit. To tarnish our financial reputation and reduce opportunities for years to come over their own negligence, I'm peeved. We are looking into a lawyer, I've also contacted the lender's branch manager, waiting for a call back as well. I'll be damned if we lose this house, and on top of it, ruin our finances. I have(had) an 823 score. My shit's together. And if this company makes a mistake and damages my abilities I'm going to ensure things are made right. I am mistaken and sorry I did not realize that when you filled out the loan application that you put down that you had another mortgage and payment, but I see you know that since selling your condo after buying is not a for sure thing. Just produce the copies of the loan app that you filled out stating that you will be carrying 2 mortgages and was approved for. |
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Guys always have your own attorney on top of the one representing the lender when doing RE transactions.... Absolutely Go ahead and contact one but no Attorney can force a lender or underwriter qualify someone for a loan they just deemed unqualified Talk to the sellers about renting the home for a couple weeks and close on it after the condo. Blows my mind why you did not just close after the condo its only a couple of weeks If I am missing something, they were approved What's the title say? Correct, we were completely approved, settled, got the keys and all. Two days later we get the phone call stating, "I'm sorry, I thought you already closed on the condo." It's been conveyed numerous times that the property settles on the 31st. While I realize it's not typical to time it out that far, that's the way it is. But for the lender to say, "the loan is now negated and viewed as default" is bullshit. To tarnish our financial reputation and reduce opportunities for years to come over their own negligence, I'm peeved. We are looking into a lawyer, I've also contacted the lender's branch manager, waiting for a call back as well. I'll be damned if we lose this house, and on top of it, ruin our finances. I have(had) an 823 score. My shit's together. And if this company makes a mistake and damages my abilities I'm going to ensure things are made right. Just be sure to make your payment and contact a lawyer. If you already closed escrow, then you should be good to go. I'm guessing that you also have title insurance. Who is your mortgage with? I am guessing that the mortgage lender is saying oh shit right now because they funded they loan but now they can't sell the loan, which is their problem. |
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If you already closed on the new house, it is a done deal.
Go hire an attorney. Did you clse on the new house? If you did, you have a loan for it and the bank signed the paperwork and so did you. They can not unapproved the loan after the closing. It is a done deal |
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If the loan is funded and you've moved in, you have much less to worry about. Not much the lender can do once the loan is funded. They may try to intimidate you, but they can't force the sellers to give the money back. Also, as has been said, it takes forever and is expensive to foreclose. The lender's best interest is to just wait this one out until the condo closing. Their underwriter and closer screwed up and now they're worried about being able to sell the loan. Their problem, not yours. I'd contact an attorney to put a stop to any harrassing calls and tell them how it's going to be. They can then deal with it or go to court. They're not going to go to court over a two week issue. You win.
They may try to say you misrepresented your situation on the application, but it will be difficult for them to prove unless you did misrepresent and they have it recorded or in writing. Otherwise sounds like you told the loan officer what was up and he/she screwed up entering it into the loan system. Or the underwriter or closer just missed it. Again, not your problem. I used to do mortgages and while I never had a situation like this, I wouldn't lose any sleep if I were in your shoes. |
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<––––-Title Officer. As has been asked before, what state are you in? Did you list the old loan as outstanding debt on your new loan app? By settled, do you mean your new purchase has funded, recorded and you have possession of the new home? 1. Virginia 2. Yes, also on credit history, as well as provided the deed of trust for the home and latest mortgage statements(at least 4 months worth). 3. Settled meaning new house is in our possession, already begun moving in. |
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<––––-Title Officer. As has been asked before, what state are you in? Did you list the old loan as outstanding debt on your new loan app? By settled, do you mean your new purchase has funded, recorded and you have possession of the new home? 1. Virginia 2. Yes, also on credit history, as well as provided the deed of trust for the home and latest mortgage statements(at least 4 months worth). 3. Settled meaning new house is in our possession, already begun moving in. where in VA are you? |
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I'm not a lawyer, but if you closed on the house, and signed the loan documents, and were up front about your circumstances, it is a done deal.
They WILL NOT move fast enough to do ANYTHING before the sale of the condo closes. The bank will hem and haw and try to give you verbal grief, but don't even acknowledge their existence for a couple weeks. |
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Quoted: Since I'm playing phone tag with everyone and can't do much else, figured I'll let Arfcom play lawyer here. We just settled on our new house on Monday. Gorgeous home, good neighborhood, finally settled. Wife and I just got married 2 weeks ago. She still owns her condo and is being closed on May 31st(16 days from now). Our lender qualified us for the loan and we settled on Monday the 13th. Our realtor, lender, and underwriter were all made duly aware that the settlement for my wife's home is on the 31st. Today we get a phone call from the lender saying we have a problem. She did not realize my wife hadn't settled on her home yet, no HUD-1 available. Now she says our current loan is invalid, and we have to re-qualify under two mortgages. Our current loan is now considered in default. To qualify under two mortgages you need 6 months worth of mortgage payments plus your down payment. The $27,000 cash we put down is now gone as of Monday and we have nothing substantial left. I asked the lender where the fuck she got the idea that my wife had settled on her condo, she said from our moron realtor. I called him as well, he said he thought we had just taken care of it. HOW THE FUCK DO WE HANDLE SETTLEMENT AND SALES ON OUR OWN? I mean I have second nature, but dear god even I wouldn't know where to begin. Now we are waiting to see if the settlement can be moved up and taken care of right now, but we aren't optimistic about that. Point is, we've already begun moving in and occupying the new house. Now we are being told our lender and people on our side fucked up, and could potentially be taking a HUGE credit dent as a result, if not lose the home in the end. They were negligent with their records and now what we were qualified on my change. Anyone ever see this stupid shit happen before? I'm not sure how you closed on the house without the HUD-1 from the condo, if that was a requirement (which would have been in the closing instructions). I see "HUD-1 from sale" as a required item on my closing instructions all the time. The lender should give you time to close - they don't want to foreclose and I assume that your mortgage and deed are already recorded. It sounds to me like the lender fucked up and is trying to scramble to cover her ass. Ask to speak to a supervisor. I know what I would do but I'm a lawyer who does a lot of real estate and we represent several banks. I wouldn't recommend that course of action for you. |
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<––––-Title Officer. As has been asked before, what state are you in? Did you list the old loan as outstanding debt on your new loan app? By settled, do you mean your new purchase has funded, recorded and you have possession of the new home? 1. Virginia 2. Yes, also on credit history, as well as provided the deed of trust for the home and latest mortgage statements(at least 4 months worth). 3. Settled meaning new house is in our possession, already begun moving in. Call your title company and verify that your new home deal has funded and the deed to you and new trust deed have recorded. If your new home as funded and recorded, it's a done deal and the lenders post closing issues are their problem (or the title company's if said title co. screwed something up. But the details given seem to indicate a lender issue.) If you have been totally honest on you loan app. and haven't violated the terms of your note on the new loan, then you are not in default on the new loan. Is the loan on the new house through a broker or lender direct? This smells like a mortgage broker who didn't follow their internal underwriting requirements and is now having trouble selling your new note to an investor. Were I you, I'd politely invite them to bite the wall and refer them to my lawyer. |
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Since I'm playing phone tag with everyone and can't do much else, figured I'll let Arfcom play lawyer here. We just settled on our new house on Monday. Gorgeous home, good neighborhood, finally settled. Wife and I just got married 2 weeks ago. She still owns her condo and is being closed on May 31st(16 days from now). Our lender qualified us for the loan and we settled on Monday the 13th. Our realtor, lender, and underwriter were all made duly aware that the settlement for my wife's home is on the 31st. Today we get a phone call from the lender saying we have a problem. She did not realize my wife hadn't settled on her home yet, no HUD-1 available. Now she says our current loan is invalid, and we have to re-qualify under two mortgages. Our current loan is now considered in default. To qualify under two mortgages you need 6 months worth of mortgage payments plus your down payment. The $27,000 cash we put down is now gone as of Monday and we have nothing substantial left. I asked the lender where the fuck she got the idea that my wife had settled on her condo, she said from our moron realtor. I called him as well, he said he thought we had just taken care of it. HOW THE FUCK DO WE HANDLE SETTLEMENT AND SALES ON OUR OWN? I mean I have second nature, but dear god even I wouldn't know where to begin. Now we are waiting to see if the settlement can be moved up and taken care of right now, but we aren't optimistic about that. Point is, we've already begun moving in and occupying the new house. Now we are being told our lender and people on our side fucked up, and could potentially be taking a HUGE credit dent as a result, if not lose the home in the end. They were negligent with their records and now what we were qualified on my change. Anyone ever see this stupid shit happen before? I'm not sure how you closed on the house without the HUD-1 from the condo, if that was a requirement (which would have been in the closing instructions). I see "HUD-1 from sale" as a required item on my closing instructions all the time. The lender should give you time to close - they don't want to foreclose and I assume that your mortgage and deed are already recorded. It sounds to me like the lender fucked up and is trying to scramble to cover her ass. Ask to speak to a supervisor. I know what I would do but I'm a lawyer who does a lot of real estate and we represent several banks. I wouldn't recommend that course of action for you. BushBoar, would you (hypothetically) ask the lender to send all loan docs (ALL, including emails, application, closing instructions, etc) to you so that you could review your (non-existent) client's case? |
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Quoted: Quoted: Quoted: Since I'm playing phone tag with everyone and can't do much else, figured I'll let Arfcom play lawyer here. We just settled on our new house on Monday. Gorgeous home, good neighborhood, finally settled. Wife and I just got married 2 weeks ago. She still owns her condo and is being closed on May 31st(16 days from now). Our lender qualified us for the loan and we settled on Monday the 13th. Our realtor, lender, and underwriter were all made duly aware that the settlement for my wife's home is on the 31st. Today we get a phone call from the lender saying we have a problem. She did not realize my wife hadn't settled on her home yet, no HUD-1 available. Now she says our current loan is invalid, and we have to re-qualify under two mortgages. Our current loan is now considered in default. To qualify under two mortgages you need 6 months worth of mortgage payments plus your down payment. The $27,000 cash we put down is now gone as of Monday and we have nothing substantial left. I asked the lender where the fuck she got the idea that my wife had settled on her condo, she said from our moron realtor. I called him as well, he said he thought we had just taken care of it. HOW THE FUCK DO WE HANDLE SETTLEMENT AND SALES ON OUR OWN? I mean I have second nature, but dear god even I wouldn't know where to begin. Now we are waiting to see if the settlement can be moved up and taken care of right now, but we aren't optimistic about that. Point is, we've already begun moving in and occupying the new house. Now we are being told our lender and people on our side fucked up, and could potentially be taking a HUGE credit dent as a result, if not lose the home in the end. They were negligent with their records and now what we were qualified on my change. Anyone ever see this stupid shit happen before? I'm not sure how you closed on the house without the HUD-1 from the condo, if that was a requirement (which would have been in the closing instructions). I see "HUD-1 from sale" as a required item on my closing instructions all the time. The lender should give you time to close - they don't want to foreclose and I assume that your mortgage and deed are already recorded. It sounds to me like the lender fucked up and is trying to scramble to cover her ass. Ask to speak to a supervisor. I know what I would do but I'm a lawyer who does a lot of real estate and we represent several banks. I wouldn't recommend that course of action for you. BushBoar, would you (hypothetically) ask the lender to send all loan docs (ALL, including emails, application, closing instructions, etc) to you so that you could review your (non-existent) client's case? Well, I'd ask the client for the package of documents that they received at closing (which should include everything that they signed) and everything that they received prior to closing (which should have included a "Bring these to closing" list, which would have listed, for example, a homeowners insurance binder and receipt, and SHOULD have included the HUD-1 if they were requiring it), and I'd ask the lender for everything else, especially the closing instructions. |
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This might be handled by the parties involved changing the close date til after the May 31st date and resigning the documents to reflect the new close. If you lawyer up, let us know how much its going to cost. These firms have their own lawyers and can make it very expensive for you. So you think the seller is going to give the funds back? |
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**Update**
Talked with the processor of the settlement agreement. Got her at a good time, she's apparently pretty pissed at our lender. Turns out the loan is recorded at this time. Ain't nothing the lender can do. It's active and the only thing they can do is wait until the condo settlement for the HUD-1. The threat of us defaulting is absurd and isn't even possible as it only happens if we don't pay or violate terms of the mortgage. The processor said she got an email a day later from the lender who was asking for the HUD-1 of the condo. She said, she had no idea of it as there is no request or contingency on the lender's end--no mention of it anywhere in any settlement paperwork. She added her disclaimer she's not a legal person but basically said there's nothing the lender can do. We didn't do anything deceptive and the lender is supposed to be the expert and knowledgeable professional in the matter. She said if anything, you might as well not even answer the phone. She told me she'd keep in contact and I'd do the same when we hear things back from the lender, as the lender is obviously in a world of trouble and can't sell the loan to SunTrust as intended. Wife also had a patient come in today who works for one of the larger banks. Patient told her the same thing, go pound sand because it's already been recorded. Just wait for settlement at the condo. Breathing easier now. |
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Ok now I can say what I would have said. "Go ahead and file a foreclosure." Their counsel wouldn't, because they know they could face sanctions for filing a foreclosure with no basis to do so. ETA: Now, you likely did sign something agreeing to provide additional documentation if requested by the lender, within a reasonable period of time after such request, so you may still need to provide a copy of the HUD - because failure to do so may be a default. But that doesn't mean you're in default now. |
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Just pray your condo closes.
I work in the real estate industry. 2 things. 1.) Nothing is final until the documents have been signed and the money has changed hands. Even then, there is usually a clause you sign at closing that covers the lender in case of mistakes. 2.) The lender's make ALL the rules. Well, all of the ones that the government doesn't make. 
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