trying to close on my home

[brownt11]

What is the name of your state? MI

In March my offer to purchase a condo was accepted. My closing date was set for April 21, 2008. It currently has been pushed back twice since then. The bank claims they can not get a FHA questioniar form returned from the HOA. The HOA says that the mortgage company has never requested to have them fill out a form. In the mean time I am without a home over 1 document that is not even a legal document. But the Mortgage company claims they can not close with out this form. What can I do as a buyer to make this loan close. Is there anyway I can file a lawsuit against the loan company for not complying with the orginial closing date or can I file suit against the HOA for holding up my closing.

 

[HUD-1]

The fact of the matter is that on a FHA spot loan approval, your condo may or may not be approvable. FHA does not allow Rights of First Refusal, for example. In the end, it is the lender's responsibility to complete the form, not the HOAs. You do not have a contract with the lender stating that they will produce a loan approval by a certain date. Forget about a lawsuit on that count. Have your agent find out what exactly the issue is.