If documentation has not been received indicating a successful closing, YMG’s closing coordinator will reach out to the closing attorney to check on the status. For unsuccessful closings, the closing hold on your account will be removed. Any payments that were received and held during the closing hold will be applied to your account as normal. To avoid fees, please be sure to catch up on any payments missed during this time.
If a new closing is scheduled, your closing attorney will fill out a new request, and the process starts over. If you continue to have an outstanding balance after this hold is removed, then late fees would be assessed as normal, in accordance with your community’s governing documents.