We closed on Thursday and signed the final paper at 4:55 p.m. (Talk about "skin o' your teeth"!). Anyhow, we are almost moved in completely, unpacking boxes day to day. This has been a learning experience to say the least.....bottom line, we are living in the home that we simply fell in love with.....and they lived happily ever after. Thanks for all of your advice!

Did you finally get to close? If not there still may be some options that you may have to save the out of pocket expenses that you have accrued and rush the loan to closing. I would be happy to help if you are still interested.

By the way, this WAS through Wells Fargo and to answer the other question, our rental home has already been rented to another occupant. We are in a holding pattern near the Tampa International Airport....awaiting clearance for landing.

Well, the seller has agreed to give us until Thursday (July 3) to close. We are currently living in a Holiday Inn (All of our belongings are still in the back of a moving van; they agreed to store them overnight for an additional $100). The Mortgage company told us all day to just keep moving along and keep packing things up, they would finally be closing today, but at the end of the day they simply told us they would pay for our room. So we will just sleep on things and hope that things are sewn up tomorrow. Genesis mortgage has told us that we should close in the morning. (On the bright side, they did put us up in a suite!)

Call a Real Estate attorney asap to review your contract and advise you.

Unfortunately there is probably nothing you can do at this point except learn from the experience. This illustrates the importance of chosing an Upfront Lender or Broker, see mtgprofessor.com to find an Upfront Broker/Lender.

Is there any chance your landlord will let you stay another 3 or 4 weeks? I would suggest you also immediately contact another lender to compare the lender fees and rates. Wells Fargo has been known to close mortgages in 10 days.

Good luck!

Wade,
I am very sorry to hear your story Your remedies can normally be found in your contract. You did not state what closing date was n the contract . There should have been a "financing contingency" in your contract and also your Realtor should have worked for you to extend the contract closing date if possible. It boils down to your contract and state laws. I would seek the advice of a good closing attorney.

Wade,

Are you sure the mortgage company is the only party responsible for your delays?

Hello Wade,

I agree with Scott, they may not ba liable, however they may be held accountable to a certain extent. Whether they are liable or not is for others to decide. Try speaking to someone at the Governing Body for Lenders, possibly the Mortgage Lending Division and see if they can help. They may advise you of your rights as a consumer.

Good Luck,

Unforetunately they probably aren't liable. You need to find out if your loan has gotten through underwriting. Tell the mortgage broker that you want to speak with the underwriter and find out the status of your loan. Sounds like there may be a problem internally.