Hello Erimmr
It sounds like you've reached your limit.
1. You need to call the lender now and find out what's the problem with the loan. Questions to ask: Does he need more paperwork sent in? Is there a problem with underwriting? What's the problem? You may need to find another lender. (fast)
2. You need to get your realtor to write an amend/extend that needs to be signed by yourself and the sellers. At least with that signed you won't have to worry about the contract falling for awhile.

My concern is the part where you say they won't give a closing date because they're not sure?!!! I tell my buyers to stay in consent touch with their lender. And I stay in touch with the lender as well. You should of known there was a problem long before closing date.

Hopefully this will be solved soon,
Gilda Baxter

Hello Erin,
to expand on all the good information that has already been given here, what your Buyer Agent can do is write up an Amend/Extend to the contract providing for a new closing date. It will need to be signed by you and the seller in order to be valid. This will allow you to sleep at night without worrying if the seller will pull the rug out from under you and put the house back on the market (not a wise thing for them to do, but they could). Then I suggest you get very clear on what the hold-up is about and what is needed to resolve it. You may want to contact another lender as a back-up if it looks like the underwriters may not approve the loan.

Best Regards,
Sue Bigus
Herman Group Real Estate
719-229-5889

The short answer, yes. While they can't actually cancel a contract they can let deadlines expire and cause problems there. I know this is frustrating, but I'm sure everyone is doing everything they can do have this deal close. Sellers want to sell and you guys still want to buy. It takes a level head in the case of the agent/brokers to keep expectations where they need to be. Hang in there. Good luck.

-Alan Strange, Keller Williams Preferred
The Strange Team
303.668.5208

Here's the bad news -- if your lender can't close you on time and the seller won't agree to extend out your closing date, you are in default. That means you COULD lose the house and earnest money. Hopefully the seller will agree to another extension, but the question is -- why can't they close you? Sounds like a problem with the financing. Do you have faith in your lender to get the job done? Is your loan officer communicating with you so you know what the issue is? Is your broker in communication with the loan officer and trying to get resolution?
I know it's a trying time, but what can YOU do (if anything) to help out? At some point you may need to talk to your broker to see if it's time to call in the cavalry with another loan officer.
Good luck!
Liz Bowen
Liz Bowen Team
Keller Williams Partners Realty
719.351.5077