So I was given a Clear to Close on Friday, and they told me we were just waiting on Title to get their paperwork together and we would likely be signing docs the end of this week and closing early next week. Then today, I got this:
"There was an old loan that showed on title and our original title insurance carrier wouldn’t insure. They did their research and First American Title will insure the property and you would be protected from anything to do with the previous loan."
I can't get hold of my lender who sent me that news, but I'm trying to figure out what this does to my timeline. He was unclear, but I got hte feeling he thought this could push things back. Anyone have any information on what this actually means or how long it will take to sort out?
