S
scottsauers
Guest
About a week ago, we refianced our mortgage with a new lender. A title agency handled the closing. After the three day recission, we received our check, as we took some cash out on the transaction for home improvements. The day after we received our check, the bank calls. The officer tells me there's been a mistake as the bank gave the wrong payoff figure to the title agent. We now owe an addition $6,500 to the bank. I asked for and received documention of the original payoff figure and the revised amount.
The bank provided a system print screen. At the top of the print was a line titled - Payoff Date. The date entered was 4/3/2001. What the system then did, was to calculate a credit for the interest we paid for the past year and deduct this from the current principal balance.
I then contacted the title company. I asked the agent what she based her payoff on, and she indicated it was the same document I reviewed. She then told me that I had to pay the bank the amount requested. I responded that I wasn't going to pay anything until I was comfortable that the numbers were accurate. At this point, the agent became arrogant, and threatened to sue me.
Now I'll be out $6,500. Had I known the correct payoff, I would have borrowed $6,500 more. Now for me to go out into the market and get this, it'll cost me close to $2000 in additional fees. I'm not the type of person that takes something they're not entitled to, but in this case I think someone should take responsiblity for the error, and compensate me. Any ideas on the best course of action?? Thanks, Scott
Immediately upon reviewing the computer print-out in support of the original payoff
The bank provided a system print screen. At the top of the print was a line titled - Payoff Date. The date entered was 4/3/2001. What the system then did, was to calculate a credit for the interest we paid for the past year and deduct this from the current principal balance.
I then contacted the title company. I asked the agent what she based her payoff on, and she indicated it was the same document I reviewed. She then told me that I had to pay the bank the amount requested. I responded that I wasn't going to pay anything until I was comfortable that the numbers were accurate. At this point, the agent became arrogant, and threatened to sue me.
Now I'll be out $6,500. Had I known the correct payoff, I would have borrowed $6,500 more. Now for me to go out into the market and get this, it'll cost me close to $2000 in additional fees. I'm not the type of person that takes something they're not entitled to, but in this case I think someone should take responsiblity for the error, and compensate me. Any ideas on the best course of action?? Thanks, Scott
Immediately upon reviewing the computer print-out in support of the original payoff