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Updated almost 5 years ago,
Lender backed out after closing docs signed
Was supposed to close on a 4 plex Friday 3/20. Final closing docs were late getting out to me but were signed on 3/19 evening and shipped the next morning. Disbursement date on the docs was 3/20. The docs did not arrive in time to title to close on 3/20, so I got a 2 business day extension to close (3/24). As of this morning, everything was set to close today according to title.
As of an hour ago - I received an email and a call from my lender that they were suspending funding to all loans because of COVID19, including my file. I am going to lose this deal and wanted to know my rights here (if any) for legal action. I have never heard of a situation where I am cleared to close, final docs are signed, and the lender just refuses to send the wire. Any thoughts out there what I can do?