The answer to your question is in your contract. Your contract states what you can and cannot do.
Most contracts have contingencies the allow you to cancel if certain criteria is not met. Your agent or attorney should be able to explain it to you.
Many contracts specify that when the title company issues the title report you have a specified time to accept or reject. Chances are if you have been waiting a month and are just tired of waiting it may be too late to use that excuse.
The thing is Fannie Mae is probably not going to pay the lien off until closing, so you have a chicken and egg situation. However, they may be negotiating how much the lien is for which could take some time.... more