usda guarantee questions- we have to close this week
We are purchasing a hud foreclosure. They say we have to close by this friday or write it off (we have already done extensions). Well usda uw approved us already and our lender underwriter is working in getting everything finished up for closing. However i am very lost. What exactly are we waiting on. What happens when they are done does it have to go through usda for another approval of some sort? I guess i was just hoping for feedback on the process from here. Thanks in advance!
Re: usda guarantee questions- we have to close this week
We were approved but then it took 3 or so days to get the actual approval paper back from USDA before closing. Also, the title package takes two or so days to write up so you'll be cutting it close. If USDA sends the approval paper in Monday or Tuesday you should be fine!