Legal Question in Real Estate Law in Massachusetts

Calculation error on closing documents

I submitted an application to re-finance my condo for $176,000 (@ 1.5 points) but after the appraisal the amount ended up being for $169,000. Now, about 1 month after the closing, I noticed that the 1.5% charge for points was based on the $176,000 and not the $169,000. What can I do?


Asked on 12/10/05, 1:46 pm

1 Answer from Attorneys

Re: Calculation error on closing documents

Write the lender and request a credit or refund as the loan does not conform to the representations made in the loan application. However, make sure the point charges were 1.5% of the $169K on the closindg document.

If you do not get a response within a reasonable period, contact an attorney

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Answered on 12/10/05, 2:30 pm


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