Please help!! Incredibly confused by where im at in the mortgage process.Here is my problem. I have been property shopping for over a year and found the perfect condo project that i wanted to mave into. I found a few bank owned forclosures and a few short sales that were in my price range but the agents were purposely listing them well below market value to get many multiple bids quickly and then close on them ASAP. I lost out to mostly all cash offers on most of these untill i finally got a call from a listing agent that told me he had a short sale i bid asking price on but the bank wanted almost 20k more before they would approve the go ahead. It was still below market value and in my price range so I jumped on it.The seller signed off, i signed off and the bank signed off so we completed the contract. They gave me only 3 weeks to close however and thats when my problems started. I'm doing an FHA loan on a non-fha approved condo. I had to get spot approval completed before Oct 1st when the rules changed. Well after many headaches and more problems than i ever could have imagined my broker tells me the lender accepted all my documentation and we received fha spot approval and they verbally told me i met their standards for approval. We had the unit appraised last week and it came in well over the purchase price. What i want to know is what kind of time frame i can expect before my lender gives me official written approval and the go ahead to close. Also, our contract period has also expired so what rights does the bank and/or seller have to back out of the deal. The seller is an out of state investor who just wants out but the bank part really worries me. If they back out am I out all the money i already sunk into this? any help would be appreciated.Thanks,October 05 2009 - Houston00YesReport 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.