Asked by Jenny, Sacramento, CA • Thu Apr 3, 2008
I'm in the process of buying a bank owned home in Sacramento, CA. We signed our docs last week and we were supposed to close on 3/28. A week later, we still haven't closed because the bank that owns the home has not provided the signed deed and a HUD form. We started all the utilities at the new house on 3/28 in preperation for taking ownership and my home owners insurance started 4/1. In addition, we've had to pay 2 weeks of rent (unil April 14) to our current landlords who have been kind enough to let us stay after we terminated our rental agreement, but our mortgage due date remains 5/1. If we had held up the closing, we'd be paying the bank $100 per day, but they don't have to give us anything. At this point, can we get any financial relief from them? Can we even walk away at this point?
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