Is it normal procedures to sign documents on one day and close a couple of days later for an FHA refinance?

tanya m asked:


We are schedule to sign the loan Docs. on 01/26/08 and the closing date is set for 01/31/08 for an FHA refinance loan is that normal?

Sam

Tags: Closing Date, Couple Of Days, Refinance Loan

This entry was posted on Wednesday, May 20th, 2009 at 1:18 am and is filed under Refinance. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

2 Responses to “Is it normal procedures to sign documents on one day and close a couple of days later for an FHA refinance?”

1. Russell K Says:
   May 23rd, 2009 at 12:09 pm

   Laurie

   That is not normal, but why are you worried? Are you sure that it is an FHA loan? What is the interest rate, and how much equity do you have in the home?

2. mccray_51 Says:
   May 26th, 2009 at 4:28 pm

   Wesley

   Yes…it is normal. There is a 3 day rescission period on all refinance loans albeit FHA or conventional. This is given to the borrower incase you want to change your mind about the transaction.

   The 3 days are counted starting the first business day after closing and ends the 3rd business day at midnight, holidays are not included in the count. Your loan officer and/or escrow closing personnel should have explained this to you.