Legal Question in Real Estate Law in Florida

Truth in Lending - Right to Cancel Includes Refund of Appraisal?

I cancelled a mortgage transaction because the actual closing costs were several thousand dollars more than the ''Good Faith Estimate.'' The cancellation document that I signed states that the lender must return any money given to them or anyone else connected with this transaction. However, they refuse to refund the appraisal fee because I paid the appraiser directly. Am I entitled to a refund of this fee and if so, how do I collect it?


Asked on 8/10/07, 4:36 pm

1 Answer from Attorneys
Scott R. Jay Law Offices of Scott R. Jay

Re: Truth in Lending - Right to Cancel Includes Refund of Appraisal?

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

I have never investigated this issue before, but I would think probably not. You are entitled to any monies paid to the lender but I do not think they would be obligated to reimburse you for anything paid to third parties.

Scott R. Jay, Esq.

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Answered on 8/10/07, 11:15 pm


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