Home arrow Mortgage Forums arrow Announcements Feedback and Our Pub arrow

Buying foreclosure...Cauldwell bank wants extension for clearing deed.

Author Message
Icon Mini Profile brxlady57





Joined: 16 Jul 2010

Posts: 1

1.00 Dollars($)
Post Posted: Fri Jul 16, 2010 11:58 am    Post subject: Buying foreclosure...Cauldwell bank wants extension for clea
Like 0
Dislike 0

Offer accepted by bank for home. All paper work done, inspection and survey paid. Closing was July 5th and now bank wants to extend to August 26th because of some sort of clearing deed problem. Do I have the right to inquire with the bank for information regarding the extension? I have already faxed the agreement to extend. I am worried that this deal will fall through or be delayed even further.
Thank you
Icon Mini Profile gmakerley
gmakerley
Community Mentor
Community Mentor

best lender badge

Joined: 09 Nov 2007

Posts: 12346
Location: bloomfield, ct
53.01 Dollars($)
Post Posted: Fri Jul 16, 2010 2:48 pm    Post subject:
Like 0
Dislike 0

Have you no legal representation? That's who ought to be advising you, of course.

Barring that, I certainly feel you have the right to obtain an explanation for the delay, though you've lost some leverage you might have had by already giving them your agreement to the extension. Would that jeopardize you? I don't know for certain, but I'd also like to think it wouldn't.

Nonetheless, I suggest you get your legal counsel involved to rectify this.

_________________
George M. Akerley
Independent Contractor - Mortgage Consultant
Word of Excellence Editing/Writing/Proofreading
860-221-5044
Quick Reply
Your Name
Subject
Image Verification


Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Highlights
Bookmark this page
Share |

Helpful References
Mortgage Guide
Mortgage Terms
Mortgage News
Book Center
Shop and Compare lenders
30 Yr. Fixed Vs. 5/1 ARM


Calculators     [View all]
Are you eligible for loan?
How much you can afford?
Calculate monthly payment
Calculate APR


Financial Tools
Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool


Our Community
MortgageFit Blog
Community Professionals
Community Rewards
Introduce yourself
Website tools


Community Rewards
Five simple ways to earn money with the Mortgage Community.

MortgageFit on Twitter

Followers (265)








Community Chat

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0
Page loaded in 21.058 seconds.