Mortgage committed but bank fails to release funds for close?
I have heard of this happening to some people I know...their buyer has a committed mortgage and they were set to close, but then closing day comes and the bank doesn't release the funds to close. It's going on now two weeks since they were supposed to close. Is this common nowadays, does it usually get resolved? They're being told that it's an FHA mortgage and there was some form that wasn't completed during the process. I get it, but why has it taken 2+ weeks now and counting to rectify?