| Verification of deposit for refinance / purchase
What is the name of your state? WA
We are refinancing our current home to get cash out to purchase a second home. Our original plan was to sell the current home but it did not sell in time, so we moved on to plan B.
Both loans have gone through underwriting, the conditions have been met, etc. We signed for the re-fi last night and were surprised to see a Verification of Deposit (VOD) form. We had been told that as long as we had the cash the lender asked for as cash reserves in our bank accounts long enough to provide bank statements, we'd be fine. We did provide the bank statements a week ago and thought that part was finished.
I know that, by law, there is a three-day right of recision for a re-fi for US to change our mind. However, is there also some period where the lender is reviewing our file again and requesting this VOD? We do not currently have that amount of cash in our account and will not within the next three days.
We are relying on the cash from the re-fi as our down payment for the new home, so if there is a problem with the re-fi we will not be able to close on the new home and we will lose a $10,000 earnest money deposit. I am panicking!  | 
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