Legal Question in Real Estate Law in Texas

I have been living in my house for 3 years now, and when I signed the papers, my interest rate was a fixed 4.5%. After a few months, the load was transferred to Wells Fargo which is nothing new. But I did not notice until recently that they also changed my interest rate to 5.0%. Is that legal? Is it possible to sue the bank to get the money back for all those months which were being paid at the incorrect interest rate? I feel like I was robbed because that extra money would have been drawing interest in my savings account.


Asked on 4/09/13, 9:17 pm

1 Answer from Attorneys
Donald McLeaish McLeaish&Associates;, P.C.

Before u go to a lawyer, get all the documents signed for the loan. It sounds like an adjustable mortgage which does increase. If not, and the interest was 4.5..you have case..good luck..a lot more than just recovering interest charged...but hard to believe..so get the documents.

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Answered on 4/10/13, 8:54 am


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