It appears that I will now be asked to sign a 2nd extension for a Homepath property which I made an accepted offer on. The delay is due to finishing the title work. Is there anything I should say/do? Is this very common for Homepath?
It happens often. When it happens here, I'll do my own looking into the the foreclosure action. I found once that the bank attorneys were actually trying to get the foreclosure vacated (they don't talk to the title/closing people in their own firm) because they had failed to name a 2nd mtg holder. Obviously, a two week extension wasn't going to solve the problem. Can they cure your title issue in a couple of weeks......who knows. I'm guessing they won't say Exactly what the issue is? Sometimes it can just be waiting for a city lien search or something, which they forgot to timely order.
Thanks @Wayne Brooks The e-mail chain I saw referred to a delay because the
"SAL's" were ordered but not yet available - mean anything to you?
Don't know what SAL is, but likely some type of lien search. At least it doesn't appear to be a defective foreclosure issue.
I paid for 2 extensions due to loan issues. Wasn't a problem.
@Wayne Brooks I've since learned that SAL refers to special assessment letter. The title company gets a letter from the city of Milwaukee summarizing what if any special assessments are still owed on the property. Money owed can be for delinquent taxes, water bill, city fines, etc.
Good, sounds routine, including the ordering it too late.
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