Posted on: 21st Jul, 2009 10:37 am
We have signed all our closing documents, and now are waiting for the loan to be funded. The title company has already cashed our down payment on friday 7/17/09. We were suppposed to get the keys yesterday (monday). We are now told we cannot get keys until the HUD document is corrected. Is this legal in AZ to cash the downpayment but not have all the documents together and prepared for funding?? We are getting very Frustrated. Our lender says only the title co can make the corrections to the HUD doc.
your input please!
your input please!
didn't we visit your closing the other day? i'm sorry to see that it's taken a turn in this direction. i suspect that your lender is correct, but i have no expertise in this area - particularly in arizona.
it's my opinion that the check-cashing was not done maliciously, but that the error (whatever it may be) was discovered after the fact.
it's my opinion that the check-cashing was not done maliciously, but that the error (whatever it may be) was discovered after the fact.
i am not sure of your case and I guess the best way is to consult a real estate attorney in your state. However, i have come across the same situation. My POA has signed the closing documents and i was asked to transfer the funds at that day. But later I found out that i was charged $800 for the house. I was on my way so I cannot correct it or read through the HUD before I came home.I quickly contacted my agent , title company, closing agent to inform them of the mistakes. Luckily, they are willing to correct it. But it take more than 2 weeks for me to finally get the$800 money back.... you'd better as your agent, title company, or real estate attorney soon to deal with this matter. My lesson is read through HUD1 carefully before closing next time. Hope this helps!
well put, guest. too many of us gloss over the details, but there's no doubt that errors occur. if anything looks amiss on a settlement statement, the time to fix it is immediately.
the real key, of course, is to actually read the materials.
the real key, of course, is to actually read the materials.
i am not sure of your case and I guess the best way is to consult a real estate attorney in your state. However, i have come across the same situation. My POA has signed the closing documents and i was asked to transfer the funds at that day. But later I found out that i was charged $800 for the house. I was on my way so I cannot correct it or read through the HUD before I came home.I quickly contacted my agent , title company, closing agent to inform them of the mistakes. Luckily, they are willing to correct it. But it take more than 2 weeks for me to finally get the$800 money back.... you'd better as your agent, title company, or real estate attorney soon to deal with this matter. My lesson is read through HUD1 carefully before closing next time. Hope this helps!