Based on my experience, I would move forward with closing asap. The sooner the better to avoid per diems. What ever per diems are charged, if the lender was truly the reason for the delay, have the lender pay the per diems.
If the lender was the REO choice, tough call but I would try to get it closed and avoid any more delays/costs.
Find out who the contacts are and start making the phone ring. Make sure you agent is all over it.
Welcome to the CRAZY world of 2008 REO transactions.
Since they have a buyer, it's doubtful they will be backing out unless there has been significant activity on the home or possibly have another buyer willing to pay more. This is a case of only the bank knowing what they will be doing.....there seems to be little or no accountability with banks making up things as they go along.....
Do you have a bank contact person that will is assigned to your case and will be expaditing your deal? Be in touch with this person daily until you have the information you need.
The "cold feet" can be warmed if this is the right home, in the perfect location, being offered at a real savings. The "sign" will be when they tell you your application was rejected. What is happening is normal for these transactions and always leave people wondering if this is the right move.
Truat that you did the right thing from the beginning and that the bank will eventually get its act together. Make them say NO to you.......
The "Eckler Team"