Loan being finalized?

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aleech

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If your FHA approved and awaiting MSHDA underwriting approval does that mean the loan is not finalized. I ask this because we are past our 30 days on the purchase agreement to have the loan finalized. If it isn't and we choose to walk away we know they will keep our $500 deposit, but is there anything else I need to know about? This is in Michigan if that helps any.
 
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