Is it legal for mortgage lenders to delay a closing because of a holiday?

I am supposed to close on a home Friday the 18th. The attorney just told us that the lender want to delay the closing because of upcoming Veteran's Day and they want the day off a week before our closing. Is this legal?

Other answer:

If you were scheduled to close your sale transaction on the Nov 18, a holiday that occur on Nov 11 should not affect you.

If the holiday is on the 11th of the month, all individuals would take that day off. Work would pick up as normal without delay following the holiday.

Your transaction should not be affected by this holiday. There might be other reasons, to delay your closing ,
however, Veteran day would not be the cause.

You might want to speak with your closing attorney once again to get a clear understanding as to why your sale transaction would not close one week after the holiday.

No real estate sales transaction would be able to close on a holiday. Banks and lending institutions are open on federal and most state holidays. Since the banks are closed no money is able to be transferred.

I hope this has been of some benefit to you, good luck.


Beverly S:
Depends on the reason. You have to get an Initial Closing Disclosure 3 days prior to closing. If your closing date was supposed to be next Tuesday you would need your ICD today & we can't issue it on a legal holiday – which means your closing date would be delayed. Also if the company is closed or the attorney/title company is closed today & your closing was supposed to be today then yes they can cancel. Also since the banks are closed today the mortgage could not fund today so they can't close today. Most lenders would have realized this before now though.
Mortgage lenders do not work on holidays. The closing date should have been
arranged for a day before or a day after.
Equality 7-2521:
Yes, they can delay it like that. The only thing is that it is still counted as a day with regard to any legal things they must provide to you within a certain amount of days. So if they have to send some disclosure to you in something like 3 days, that day counts even if they are closed.
Of course. The government offices where transactions are recorded are closed on holidays. Financial services like banks and credit unions are closed on holidays. Lawyers that handle financial matters don't work on holidays.
Yes. As deeds and mortgages can't be recorded on a holiday, it would unreasonable to insist on a closing.
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R P:
Yes, it's legal.

Banks are closed for all federal holidays.

Yes, of course. Lenders have banker hours. I know you're excited, but just breathe. It'll come soon enough.

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