After 5 & 1/2 moths of waiting, our short sale got approved...then, after we thought we were set to schedule closing, the mortgage bank wanted a TON of additional paperwork, ..we've submitted all of this and have been cleared to close... The initial short sale approval expired, and we were granted an extension through next Wednesday. Now, the sellers lawyer is waiting for a form from the sellers bank, and then we should be able to close.

On Friday we learned that our interest rate will expire this Thursday, and if we haven't closed by then, we are FORCED to wait 10 days due to some new gov't policy. If this is true, and we can't close by Thursday and have to wait 10 days, the short sale approval extension will expire! Will they even grant us an additional extension??? What can we do? Do we really have to wait 10 days if the interest rate expires???Chat Icon