Cash Hash » Cash Hash » Cash Back » Can a mortgage company sells the mortgage out from under a short sale in contract?

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: I was set to close on a short sale this week. About a month ago the seller begged for their lender to give them a extension for closing so they could get their stuff out. (It was an elective short sale - not a foreclosure). I have been ready to pay cash on the sale for months, and found out today that we will not be closing this week because the original lender Chase, has sold the mortgage to a different company. Effectively canceling the sale... Is this legal, how can they break the contract? I am out a serious amount of money all ready because I have been waiting on this house to close, and now it looks like it won't at all. HELP

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