Homeowner Signed Agreement With AMC & Countrywide
AMC and Countrywide accepted short sale and homeowner signed agreement paperwork, closing is set for March 24. Can AMC or Countrywide still back out after agreement has been signed and upto closing?
Yes. If they learn that any information provided is materially incorrect, they can rescind their approval. Read the terms of the short sale approval, and closing instructions very carefully. If the closing conditions differ from the written closing instructions, the mortgagee(s) can refuse to accept the payoff check.
Have they ever rescinded their approval? Sure. But not without good reason.