How long will it take to close on a Foreclosure?I'm in contract and had a closing date set for May 20th. In addition, the bank added a "Time of Essence closing date" with penalties if I missed this date.Well, I was ready to close, and as of today(June 6) am still waiting for the signed deed from the bank. Almost 3 weeks later.This has put me in a tough position, as I have already given notice to my landlord that I'm leaving. What can I do to make sure I get the deed signed and close on this property?I've already sent out a letter trying to enforce the "Time of Essence" clause that the bank put in, and was advised any legal action such as specific performance would be costly and time consuming. I also know I can cancel the contract since they are in breach, but again, then I have to go to court to recoup my costs.What is the point of a contract if I don't even feel I'm protected?Any advise would be appreciated. Thanks!June 06 2014 - Guttenberg00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.