rate lock issue after seller delays
hello i have a bad situation going on i will try to explain it as best as possable
me and my girlfriend were interested in a house and the sellers realtor said it might take a few months because of surrogates court issue they were having .. somthing about how she got divorced and the husband died.. this is what we were told at the time which was back in february
so we were like ok no big deal we’re not in a rush we can wait so we signed contract in february and the on or about date was april 21
i got a commitment letter for the mortgage from ridgewood bank
we recently found out through the surrogate court website which is all public info
she was limited from being an administrator of the estate to not being able to sell the house for some reason.. im not even sure why she put the house up for sale if this was the case as this happens a few years ago now.. it looks like she just tried to fix the issue with the courts recently..
anyway we didn’t really have a problem waiting but now the closing date is one week away and she will obviously not be able to close on time and i figured that would happen
but the lender is trying to have me extend my rate lock which is expensive and i told him that this could take months to get resolved but he just insisted i extend it another 30 days and i will only have to pay if we close.. he wasn’t really giving me any other options on what i should do even though i told him the situation of how it could take months to close..