Wrongful Funding

What is the name of your state? Ohio

I over nighted my right to cancel by the proper date. Notified my Loan officer and the loan funded anyway.

The escrow officer called me and I told him that I had cancelled. It has been 14 days noe and no communications from them and my current loan ahs been paid off and my house is free and clear. no new lien recorded on my deed and my current lender is refunding my escrows and releasin g lien this week.

I cancelled due to the fact the loan officer was taking me for a ride and was being sneaky in his practices.

What should I do... what can they do?? how long do I have to wait for them to correct this... I am getting no communication from them...

[MortgageGuru]

Conatact an attorney, two weeks ago.

Thanks for the insightful advice. We were well within our right to cancel and we did not know we had a problem two weeks ago...

[HomeGuru]

Originally Posted by troyf

What is the name of your state? Ohio

I over nighted my right to cancel by the proper date. Notified my Loan officer and the loan funded anyway.

The escrow officer called me and I told him that I had cancelled. It has been 14 days noe and no communications from them and my current loan ahs been paid off and my house is free and clear. no new lien recorded on my deed and my current lender is refunding my escrows and releasin g lien this week.

I cancelled due to the fact the loan officer was taking me for a ride and was being sneaky in his practices.

What should I do... what can they do?? how long do I have to wait for them to correct this... I am getting no communication from them...

**A: this was a refinance correct, so therefore you also had a 3 day right of rescission.

Correct this was a refi.... I sent the right to cancel by midnight as instructed on the right to cancel. Title and escrow is almost blaming me for not informing them, I had no obligation to inform them but did inform my loan office the day before I cancelled. They are in the process of trying to un ravel the payoff with my bank. but didn't start the process on Sept. 29th when i brought this to escrows attention, they atrted the process on October 8th when I called to check on it again. There is obvious neglect on their part. Today I got the payment coupon in the mail, but the have not recorded on my deed.. I just want to make sure I protedt myself and my credit.

Are you still dealing with this? I would send a letter to your county or state attorney's office.

[louie476]

Calif...Hello Iws wondering what did you do, I have almost same problem,sent out right to cancel....but was ignored....
Could you offer some advise....It would be greatly appriceated.
Thanks

[HomeGuru]

Originally Posted by troyf

Correct this was a refi.... I sent the right to cancel by midnight as instructed on the right to cancel. Title and escrow is almost blaming me for not informing them, I had no obligation to inform them but did inform my loan office the day before I cancelled. They are in the process of trying to un ravel the payoff with my bank. but didn't start the process on Sept. 29th when i brought this to escrows attention, they atrted the process on October 8th when I called to check on it again. There is obvious neglect on their part. Today I got the payment coupon in the mail, but the have not recorded on my deed.. I just want to make sure I protedt myself and my credit.

**A: you DID have a duty to inform the title and escrow company.