closing delays: Why You're in Danger of Closing Delays (and how to avoid them)
- 07/02/19 08:40 AM
Closing delays are one of the many unintended consequences of recent government regulation. Mortgage lenders are required to prepare a "Closing Disclosure" and adhere to the timelines illustrated below. Any last-minute changes to your deal structure could cause delays of up to a week on purchase transactions, and up to two weeks on refinance transactions. Delays can be even longer if your transaction takes place anytime close to a federal holiday.
Here are five things you should consider doing in order to avoid unnecessary delays: Write a longer timeline into your purchase agreement so that you don't (2 comments)