Asked by Jen, Syracuse, NY • Tue Aug 16, 2011
My purchase offer got accepted at the end of April. The day before closing I did a final walk through to find the once dry basement to be covered in mold and all the walls buckling. This was SIX WEEKS AGO and 5 weeks ago my lock-in rate expired. The bank has been charging me (we're trying to get the seller who is a relocation company to reimburse me at closing for this) $60 a day for everyday we go over my lock-in date. Next week my mortgage expires and I was told I would have to reapply for the mortgage after this date.
The date is getting closer and they are STILL not done with the work. The relocation company has gone above and beyond to remove the mold and rebuild the walls but they have been very vague with everything. If it does go over will I have to wait another 3 months while the bank re-approves me for a mortgage? I've been calling everyday and the seller's agent keeps pushing back the estimated completion date.
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