I have had a deal in equator for 3 months, 3 weeks ago I was countered through equator (finally). I promptly accepted all terms of the counter, I still have yet to get the approval, the buyer is getting a VA loan and needs at least 30 days if not 45 days to close once the approval is received. The sale date is on the 7th of November and the negotiator is telling me he wont postpone the sale date. Does anyone have a contact at GMAC so that I can go above this morans head and try to get this deal to go through? Thanks!
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Is this a Fannie Mae loan? If so I have just encountered the same thing. Fannie's guidelines are they MAY not postpone a date if the loan is more than 270 days delinquent..or even approaching that. For me they just postponed it 3 weeks, deal fell thru for other reasons but it would have been tight for the buyer to close an FHA loan in under 3 weeks. If it is Fannie Mae, you can try to call them and see what can be done.
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