mortgage closing

[MarilynnH]

What is the name of your state?Florida

We have had loan approval from a mortgage broker. We completed title search and all other requirements prior to closing. When the closing date came the broker told us he did not have the loan package from the lender yet. It is almost one week past the closing date and we are still waiting on the mortgage papers. The title company and seller are pressing for a resolution. What can we do?

 

[Souix]

What is the name of your state?Florida

We have had loan approval from a mortgage broker. We completed title search and all other requirements prior to closing. When the closing date came the broker told us he did not have the loan package from the lender yet. It is almost one week past the closing date and we are still waiting on the mortgage papers. The title company and seller are pressing for a resolution. What can we do?

***Not sure I understand. Are you waiting for the loan documents to arrive in escrow so you can sign them? If you are 1 week past closing you need to have your Realtor prepare an Extension Addendum to extend the closing date. Your Realtor needs to talk to the mortgage broker and find out when to extend the date to, prepare the Addendum and have all parties sign it. You do have a Realtor don't you? Once the Adendum is signed, your Realtor can send it to escrow....there is one resolution. The seller's resolution will be in the Addendum extending the closing date. If you are past the closing date and have not closed yet, you are in breach of contract. Best to get your Realtor working on this immediately.***

 

[HomeGuru]

Has the loan completed underwriting?