Legal Question in Real Estate Law in Virginia

I am refinancing and live in an area that was just declared a FEMA disaster area because of Hurricane Sandy. (No damage was done to my property.) The Settlement Date on my HUD-1 was 10/26/12 -- three days before Sandy passed through. On that day, the settlement agent sent a notary to my home and I signed all of the mortgage documents, including the HUD-1, and I provided a cashier's check for the closing costs. The Disbursement/Funding Date is 10/31/12. On 10/30/12, the lender (based in another state) informed me that "due to a FEMA disaster in your county, we have ordered an appraisal reinspection for your property; there will be a $125 reinspection fee reflected in your final HUD/closing statement." Is it legal for the lender to change the HUD settlement statement and add another fee after I have already signed it? From my perspective, the closing transaction took place on 10/26/12 (the Settlement Date), and I was done with the process then, even though the Disbursement/Funding Date was five days later.

Asked on 10/30/12, 9:27 pm

Michael Hendrickson Law Office Michael E. Hendrickson

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0 attorneys agreed

So, what does your purchase agreement(sale contract) have to say

about the issue (if anything)?

If in violation, then contact the lender to make known your

complaint.

Answered on 10/31/12, 6:52 am

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