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Updated over 5 years ago on . Most recent reply

User Stats

258
Posts
66
Votes
Wendy S.
  • Ellenwood, GA
66
Votes |
258
Posts

Incorrect Refinance check

Wendy S.
  • Ellenwood, GA
Posted

Good day BP Nation.

So some of you might remember a whole back I asked for your help to chose between a HELOC and Refi. Based on my time line to sell the property @Chris Mason suggested a HELOC. Unfortunately my lender advised that with my income I would not qualify so we did the Refi cash out instead.

Closing took place on Sept 25th. At the closing I noticed the payout was different from my CD so I reached out to the lender and they emailed the corrected one which I had previously gotten. So I signed and returned with the closing attorney. On the Sept 27th, I got a call from the settlement agency office that I needed to sign a new CD as the one that was sent out was wrong and I should get a little more funds. I asked the rep to tell me the amt due, after which I pointed out that this was already corrected at closing. She said ok. She wasn't aware and was happy it was already signed.

A week later I got the check in the mail and it was wrong. The amount was for the amt I got at closing which I did not sign. I've been calling the lender and settlement agents since then but it has not been resolved. They have advised where the error lie and are trying to get the funds disbursed to me.

What's my recourse, and also should I incur interest on this amount that I have not received? My monthly payment starts Nov 1.

  • Wendy S.
  • Loading replies...