I am so sad....

Original post by Valentinegirl

Jun 29, 2004 07:13 AM

Our lawyer told us yesterday that we probably won't close before we loose our apartment and our interest rate. I am so sad right now. We are going to have to put our stuff in storage, move in w/ my MIL and our mortgage will go up about $100 a month w/ the current rate. They are trying to get the sellers backruptcy papers done asap but its not looking good. I have asked my landlord to stay an extra 2 weeks already til the 12th and we extended our rate 3x already for 3 weeks. We can't extend it anymore after this. I would have never thought this could happen. We have to close before next Friday to avoid all this. Thanks for listening.

Valentinegirl Posted: Jun 29, 2004 12:01 PM

Re: I am so sad....

Thanks for all the kind words girls! I always feel better after writing on here.

ILT1221 Posted: Jun 29, 2004 12:19 PM

Re: I am so sad....

So sorry you are going through this. I personally hate the closing process...its the most difficult and frustrating part.

I hope everything works out!!!

Misha Posted: Jun 29, 2004 01:04 PM

Re: I am so sad....

I'm so sorry Karissa, I hope things turn out ok for you.

AmyKay Posted: Jun 29, 2004 09:22 PM

Re: I am so sad....

I'm sorry

DjPiLL Posted: Jun 29, 2004 11:03 PM

Re: I am so sad....

That sucks.... and yeah as the buyer you don't have much recourse. You can back out if you want. Your lawyer should get the deposits back. The only thing you would be liable for is their lein searches and stuff like that. Maybe their lawyer fees... but I think that you can fight.

I am curious... how long has this rate locked for. After extended it three times up till the July 9th date... how many weeks did you hold the rate for?

Valentinegirl Posted: Jun 30, 2004 06:00 AM

Re: I am so sad....

Posted by DjPiLL

That sucks.... and yeah as the buyer you don't have much recourse. You can back out if you want. Your lawyer should get the deposits back. The only thing you would be liable for is their lein searches and stuff like that. Maybe their lawyer fees... but I think that you can fight.

I am curious... how long has this rate locked for. After extended it three times up till the July 9th date... how many weeks did you hold the rate for?

We locked in April, when we signed the contract. A 75 day lock ended and the extension for 3 weeks ends next Friday. Its been 3 months since we signed the contract.