Posted on: 10th Aug, 2009 10:13 am
I closed on a house 5 days ago, but the title company called me and said they haven't received funds, Can the deal fall through?
The deal may fall through if the bank that was "lending" the money did not have the monies available. Have your attorney contact the lender to find out the issue before this leads to something larger. I hope this helps...
i don't quite comprehend why the title company would be calling a borrower to discuss funding of a loan, but suffice to say it's not information that is particularly favorable.
as the others have posted, however, this definitely needs looking into. the lender is the source of the funds, as well as the source of the information concerning the funds. the title company needs to be in contact with them. if you are in what they call a "dry" state, then it might just be a timing issue. nonetheless, you need to be assured that all has been taken care of. it's not your undertaking, though it will be helpful if you get on the phone with the lender to find out what has taken place.
as the others have posted, however, this definitely needs looking into. the lender is the source of the funds, as well as the source of the information concerning the funds. the title company needs to be in contact with them. if you are in what they call a "dry" state, then it might just be a timing issue. nonetheless, you need to be assured that all has been taken care of. it's not your undertaking, though it will be helpful if you get on the phone with the lender to find out what has taken place.
