Legal Question in Real Estate Law in Iowa
Mortgage Payoff, Interest
We recently refinanced our home. The bank that originally had our mortgage (Bank A) added on interest that had never showed up the entire time we were working the deal. When it came time to request a final payoff, there was an additional $4000+ interest all-of-a-sudden. We (along with Bank B) disputed this, Bank A finally agreed to waive the interest and gave a final payoff amount which did not include that extra interest. Those papers were signed off on. We now have Bank A calling us to come in and sign papers so that they can add that waived interest onto the end of an auto loan we still have with them. We're furious but need to know what our legal rights are before we dispute this.
Thanks so much for any help you can give.
1 Answer from Attorneys
Re: Mortgage Payoff, Interest
Depends on the terms of your loan, as well as the documents they provided regarding the payoff. I would be happy to review those documents for you.