Our customer is selling their current home and needed to close on that before he could close on his new purchase. We set the closing date, provided the CloD and now the his current home closing was delayed so now we have to delay the closing for the new purchase because the money from the sale is going to be used as down payment on the new loan.
Since we met the original time requirement for the CloD... the new closing date would be scheduled and a revised CloD issued with the new date and prepaid interest (since it changed) and we can provide the day before or at closing correct?
Wouldn't this also be a "changed circumstance" that would need to be completed?
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Brenda W, CRCM