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#2066696 - 02/29/16 10:15 PM Closing Delayed
BrendaW Offline
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BrendaW
Joined: Jun 2001
Posts: 231
Texas
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

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#2066710 - 03/01/16 02:20 AM Re: Closing Delayed BrendaW
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,364
Galveston, TX
Yes, you would provide a new CloD at or before closing.

Wouldn't this also be a "changed circumstance" that would need to be completed?

Not quit sure what this is??
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#2066728 - 03/01/16 01:26 PM Re: Closing Delayed BrendaW
RR Joker Offline
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RR Joker
Joined: Nov 2002
Posts: 20,656
The Swamp
You wouldn't be changing anything that falls under changed circumstances...you are just updating your closing date.
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My opinion only. Not legal advice.

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