What is the name of your state?What is the name of your state? CT
My husband and I are in a binding contract with the seller to buy there home. We were supposed to close before or on March 15th, but they were unable to come up with their funds that they needed for closing. Then my lawyer and their lawyer switched the closing date to Tuesday, March 22nd. Now they are not ready for that date as well. We have our mortgage all set and ready to go, but my mortgage broker told my husband that the fixed rate is only good till the 31st of this month, then it could change. We really want this house. We have fallen in love with it and don't want to lose it. We have fulfilled all our requirements on the contract. Our lawyer said they might need to foreclose if they can't get a second mortgage or loan. He said their lawyer is trying to convince them that this is a good thing to sell the property to us. What can we do to make sure that we don't lose this house. I am very upset, because we should already be in the house, since closing was supposed to be on March 15th. Please help!
My husband and I are in a binding contract with the seller to buy there home. We were supposed to close before or on March 15th, but they were unable to come up with their funds that they needed for closing. Then my lawyer and their lawyer switched the closing date to Tuesday, March 22nd. Now they are not ready for that date as well. We have our mortgage all set and ready to go, but my mortgage broker told my husband that the fixed rate is only good till the 31st of this month, then it could change. We really want this house. We have fallen in love with it and don't want to lose it. We have fulfilled all our requirements on the contract. Our lawyer said they might need to foreclose if they can't get a second mortgage or loan. He said their lawyer is trying to convince them that this is a good thing to sell the property to us. What can we do to make sure that we don't lose this house. I am very upset, because we should already be in the house, since closing was supposed to be on March 15th. Please help!