Legal Question in Real Estate Law in Massachusetts

Refinancnig Help

I refinanced my home last week through my original mortgage lender. All of the paperwork has been signed, notarized by an attorney, and the new mortgage has been filed in the local court. Now the bank is claiming that there was a mistake on their end with the note, because my wife was not included, and they want me to pay an additional $1,200 in closing costs. To me this seems like a bait and switch coupled with a shakedown. What are my options?


Asked on 5/08/09, 1:37 pm

2 Answers from Attorneys

Re: Refinancnig Help

First, if it was their mistake then you should not pay a dime for the mistakes that were made. Under RESPA, that is their obligation.

Second, did you apply for the Note to be signed by both of you or just one of you?

If only you were to sign the loan per your application, then they have no right to ask her to sign the note now.

However, if the property is owned by both you and your wife, then you should both sign the Mortgage. But those costs are between the lender and the closing attorney not you.

There is no way you should pay any additional closing costs.

Please feel free to contact me if you have any additional questions.

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Answered on 5/08/09, 1:45 pm
Joseph Murray Joseph M. Murray, Esq.

Re: Refinancnig Help

You should consider retaining an attorney to review all the papers to be certain no part of the error was your fault. An if that is the case, you should require the mortgage company pay for their own error and your costs to defend against their effort to get you to pay for it. Good Luck!

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Answered on 5/08/09, 4:40 pm


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