My recommendation would be to move forward as you are doing. Make an immediate ammendment to escrow stating that in the event of a late closing that you will be compensated for all of the damages incurred including your PITI, as well as any additional costs for the arrangements you are making. It may be in your best interest to attempt to ask for additional deposit money as well. This doesn’t protect you in the event of a full on default but it does help cover your expenses in the event of a late closing.
Fortunately we smelled a rat and did this and were covered financially. That is about all you can do.
SDA no the broker did not have those initials. Both the agent and the mortgage broker operated in the south part of the county.
