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| *Business questions>>>Renting & Real Estate Questions |
a mistake was made on my house loan papers, now what can i do? |
Question: I refinanced and they used the wrong address on the loan docs, the old loan was paid off but they cannot record the new one. I am paying way to much for this loan coz i was in a jam. Do I have any leverage? Answer: If you noticed the mistake before you signed, you should not have signed the loan docs. Someone should have contacted the lender immediately. I do closings, refi's etc and if there is a mistake, I stop the closing and we all sit there and wait until the bank e-mails a new set of docs. What "leverage" are you looking for? You signed incorrect docs, either intentionally or in error. When the bank is notified, they will either prepare a new set of docs for you to sign which you are obligated to do as you affirmed in the first set of docs that you would cooperate with any adjustments or corrections. I doubt you have a right of rescission at this point because you old loan was paid off. If you hadn't waived that right in writing at your refi closing, the payoff would not have been sent out to your old mortgage company. |
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