What are the options?

you have a few options

1 - pay to extend the rate lock
2 - the rates are lower now then they have been in months, so expire the rate and lock a lower rate. this is not possible with chase and those morons have a new rule that kicked in on 11/2009 that does not make any sense.
3 - close on the apartment, put a hefty amount of money into escrow to have the owners fix the issue. charge them per diem rate until they fix or fix yourself and take the money out of escrow.

only option is to get a good lawyer.

If you are in contract, you presumably have a lawyer. What did they say?

Definitely lawyer. I wouldn't be surprised if all parties involved have a duty to make lender aware of mold problems prior to closing.

I would do everything I could to void the purchase due to undisclosed mold issues. Mold is a nightmare. Ask your lawyer to get you out.

Contact "Microbiologies". They are environmental experts. I recently hired them, and they swabbed the mold (the test results came back for the hazardous to your health kind of mold, I don't have the report here with me at the moment.)

They did air-testing, took photos and measurements to document the leak and mold conditions.

They give you a full written report, very extensive. They were real pros.

Good luck.

Correction:

It's microecologies.com

Owned by Bill Southern, MS, CIH

Tell the LL to move you into another unit asap, maybe even a little higher for better view. You are a renter, right? Who the f'k buys in this market and as the cherry on top, let me get a new respiratory system!

Can you get a waiver from geitner to close later, for your $8k tax credit? Flmao.

Oh, something helpful. In my estimation you don't need the options it's the current owner who's go issues.