Legal Question in Real Estate Law in Massachusetts

Closing Date Changes Made by Bank/and or Mortgage Company

We have been approved for a mortgage at 100% financing (70/30). Our offer paperwork stated we would like to close on 9/4/03, but we pushed for 8/29/03. Were told we would close on 8/29/03. Did not happen. 9/4/03 came and went, still haven't closed. Bank keeps asking for more and more information even though we have an approval letter and mortgage committment letter from bank. We were supposed to be out of our apartment by 9/1/03. Still here. New date given of 9/19/03 by bank. However, we absolutely must be out of our apartment by 9/12/03. Because this is not our fault, is someone else (i.e., bank or mortgage company) liable for our getting suitable lodging and storage for our belongings until we do close? We're concerned because the closing has been pushed back so much.


Asked on 9/08/03, 11:28 pm

1 Answer from Attorneys
David Baker Law Office of David Baker

Re: Closing Date Changes Made by Bank/and or Mortgage Company

Sounds like there's a problem with the mortgage and the bank hasn't told you what it is - or has it? What sort of information does it keep asking for? Does the bank know that you must be out of your present apartment on 9/12, and why? Whether the bank would be liable would depend in part on the answer to those questions. It may help to get a lawyer involved if there isn't one already. The lawyer could put some pressure on the bank, which is something that lawyers are skilled at. Good luck!

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Answered on 9/09/03, 10:07 am


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