My question involves a mortgage in the state of: California
This transaction is in the final stages of Escrow and was supposed to close this week but on 10/6/11 a lien from the HOA was discovered. The seller will take care of the lien but this has prevented the funding and the closing of this property which should have occurred this week. It is a Fannie Mae foreclosure. I will not know anything more until Tuesday 10/11/11 and it is unclear how quickly it can be resolved.
I am currently in a rental with a lease that ends 11/4/11. If this continues I would have to extend my move out date at a much higher rate.
I am the buyer. What are my options, with regard to the property purchase at this stage?