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What is the name of your state?
Maryland
On Wednesday night my wife and I signed all of the settlement papers on our refinance loan. Everything was as we wanted it except one payoff was higher than I negotiated with one creditor but I knew I have the 3 days to make any changes before the loan funds.
Long story short...I get a call yesterday (the day after signing all docs)from the title company stating that the mortgage company has sent them new closing instructions. The problem with this is, they are requiring that I pay off my new car down to 10 payments, and they weren't including a lien that I negotiated a payoff for. Their scenario does not work and there is no benefit to us to do the loan that way.
Can the mortgage company do this? and whose fault is it that the instructions were not to the mortgage companies liking...the title company or the mortgage company. Doesn't Releasing the package to be closed say that the mortgage company agrees to carry and fund the loan, and aren't the signed and notarized documents binding.
What are my rights?
Please help because I need this loan to fund on time to honor my payoff with my creditors.
What is the name of your state?
Maryland
On Wednesday night my wife and I signed all of the settlement papers on our refinance loan. Everything was as we wanted it except one payoff was higher than I negotiated with one creditor but I knew I have the 3 days to make any changes before the loan funds.
Long story short...I get a call yesterday (the day after signing all docs)from the title company stating that the mortgage company has sent them new closing instructions. The problem with this is, they are requiring that I pay off my new car down to 10 payments, and they weren't including a lien that I negotiated a payoff for. Their scenario does not work and there is no benefit to us to do the loan that way.
Can the mortgage company do this? and whose fault is it that the instructions were not to the mortgage companies liking...the title company or the mortgage company. Doesn't Releasing the package to be closed say that the mortgage company agrees to carry and fund the loan, and aren't the signed and notarized documents binding.
What are my rights?
Please help because I need this loan to fund on time to honor my payoff with my creditors.