After closing on a commercial loan 3 weeks ago, I am now informed that I owe an additional for points that the lender left off of the settlement cost by mistake. \n\nthe only thing that I recieved to remotely suggest that points were involved was a pre committment letter that was already expired when we recieved it  { we were asked to initial the letter and fax it back }..... we assumed that we had to initial since our commitment date had expired and a request for an extention was also signed.\n\nwe never recieved anything else pertaining to points or fees after that.  no final approval , good faith estimate, closing cost estimates, e.t.c. althougt we asked for them  to gage an appromimate figure of closing costs.\n\nI was told verbally by the broker that closing cost would run between $7000 and $10000.\n\nit was $11000 and I assumed that was it , until we were notified that additional costs were left off the settlement statements and we will be responsible for them.\n\n{ whats fair ?}
123953
Contractually, I don't see anything here that legally obligates you to pay for his error. Read your final closing statement thoroughly to see how much he's already received.  Usually, commercial loans are handled by the banks directly w/o the use of third party brokers, so try going direct w/ the bank for any questions/concerns.  The loans funded, so I wouldn't pay a dime since he won't be able to prove your legal obligation.  What could he do?
133528
They tried to take out my mortgage payment 2 days early, and they charged me a NSF charge and a Late Charge, when the money was put in the correct day, and I had to notify them the day my mortgage was due and asked why my balance was off by $19.00. They say it was some kind of computer error. of course it would never be there error.\n\nThis happened 8 more times durning my 5 year mortgage with them.\n\nIt also took 2-3 months before they refunded my account the $19.00 and to rebalanced my mortgage accordingly.\n\nJust because banks have some fancy Business Degree, they still need to held accountable for work.  Like Mom use to say: Watch you pennies and the dollars will take care of themselves.
557863
don't sweat this. it's common for a closing to be rescheduled, but check with your realtor to see if there is a REASON for it being rescheduled. often times, attorneys don't get the "loan packages, etc" drawn up & delivered in time for a scheduled closing. in this case, it's no big deal,.
388785
You should check on a line of credit.  It costs about 1-2% of these amounts to extend credit depending upon the terms.  It is quite possible they were losing money on these because it costs them every time they write the paper.  Banks have very thin margins.  It takes a lot of money to just make a little.  A 10,000 loan not paid down and paid in 365 days on average yields 100-150 dollars total.  Every transaction costs money.  Each cleared check costs money.  Each contract costs money.  It is quite possible it isn't worth their time.
492244
It is very rare that deals fall through at this stage, but it does happen. I've actually had a closing where all of the documents were signed, notarized and ready to record, however, at the last minute the underwriter noticed a mistake which held up the loan. The seller was impatient and backed out of the deal. It can happen, it just doesn't usually. \n\nIf you're the buyer, call your lender and double check to make sure that they have everything that they need. It's frustrating to find out they need a copy of a pay stub on the day you're supposed to close. If you're the seller, call your real estate agent and have them double check with your buyers agent.  \n\nHopefully, none of this will be an issue and everything will go as smooth as silk for you. Good luck!
270139
Did you read the "fine print" in the loan contract? Looks like you need a lawyer.
486213
That was bad advise from your attorney. Get a free consultation from another one. 10,000 dollars is too much to just "forget about" Did the morgage fall through on bad faith actions from yourself? And besides it the Principal of the thing!
671059
CBCS has purchased this debt.  They own it.  It will not help to contact the telephone company.  The reason they will not settle with you is because this is considered a utility bill.  Collection companies, even though they could, will not accept partial payments for old accounts.  Occassionally, when the bill is very, very old they will accept a lesser amount.  Your's is not terribly old.  You could contact a supervisor and offer a larger amount, but I doubt that they will accept anything other than full payment or a payment plan.  If you are purchasing a home next year, you need to get this resolved quickly.  It can take 12 months for your credit score to get anywhere near normal after something like this.  If your FICO score is too low, you'll end up paying a higher interest rate on your mortgage; that'll cost a heck of a lot more than an old phone bill.  The paid in full will need to season on your credit report to get this off your back. Don't waste time disputing the debt if the account was in your name, regardless of the circumstances. If it was incorrect, it should have been disputed with the phone company back then, not now with someone who could care less.  Be sure to get a paid in full receipt from CBCS.  If they don't report it correctly, at least you'll have the receipt to show the underwriter when it was paid.  They can manually underwrite your loan and adjust your FICO score appropriately, if needed, when the time comes.  It is smart of you to think about this now.  Next year is not the time to deal with this issue.  Good luck, and happy house hunting.
297110
The bill of sale operates as a written contract between you and the seller, the terms of which are apparently, one puppy in consideration for payment of $600. As you have actually paid her $400, you have begun to perform the contract, however her performance is not due until you pay the remaining $200. \n\nBecause she has stated her intention to not complete the contract on grounds not apparently part of the original agreement, she has committed what is known as an anticipatory breach, and you can choose to either complete your performance by paying the $200, demand payment, and then sue for her specific performance (tender the puppy), or you can sue now, in anticipation of her unequivocal statement that she will not perform.\n\nIf you choose the latter route (and you should), then you should send the vendor a demand letter stating that you will agree to a mutual rescission of the contract in exchange for her return of your deposit, after which you will both go your separate ways, or that she must send you written assurance of her intent to complete the contract when her performance is due; and that if you receive neither within 5 days, that you will begin a small claims action against her, which if you are successful, will cost her statutory attorney fees and costs of filing suit, plus the refund of the deposit, along with the almost certain negative effect on her credit rating when the judgment is automatically placed on all of her credit reports by the major credit reporting agencies. \n\nYou need your letter to be firm, but non-threatening. You want an amicable resolution of the matter, and you don't want the puppy, because this person will likely be a constant nuisance to you after you acquire it.\n\nI'll bet after she receives the letter that she backs off and sends you your money, or tells you you can have the puppy.\n\nGood luck.
636037
My dad discovered some small print a few years back where they couldn't charge the redemption fee if you're remortgaging with the same company (not sure if it applies to all companies however) - it pays to read the terms and conditions very thoroughly for any loopholes there are because these firms never advertise anything that will lose them money... it may even take 3 or 4 nuisance phone calls to make them change their minds.. persistence is the key!  Keep complaining and you'll get anything just so they can get rid of you!
226603
This is not likely to be helpful, and could result in you increasing your debt.  When a loan is processed and approved there are almost always fees to be paid. This lender may be planning to add the fees onto your loan balance.  He is trying to make a buck off of you. Be wary. \n\nThink of lenders as sales persons.  They are pushed either by greed or by management to "sell" and ethics are rarely their top priority.\nAvoid taking financial advice (or any other sort of advice, for that matter) from someone who stands to gain from one of your choices.
557153
Questions to resolve...\n\nHow much is the house worth? - Get an appraisal\n\nIs the 1000/mo applied to interest only?  Does it cover the entire amount of interest?  Will the balance at the end of a year be lower, higher, or the same?\n\nIs there a clause that will allow you to get out of the whole deal completely if you change your mind, or find out that the property is bug infested, or has mold damage, or is falling down, etc.?\n\nAsk the seller for a current title search evidencing the property is free and clear of all liens etc, except for the seller's current mortgage.\n\nThis could be very complex depending on the terms of the land contract (lease purchase).  I would contact a real estate attorney to make certain you understand and agree with all conditions.
104215
1).  What are you adjusting your notes payable for?  Interest Expense?  Current Maturity?  Interest Payable?\n\n2).  When was the "timber tract" purchased?  What is the useful life of the "timer tract"?  What method of depreciation are you using?  Just because you have a salvage value does not mean you fully depreciate it in the current year.  After you get the correct depreciation (using the above information), then you would debit depreciation expense and credit accumulated depreciation.
173219
You still owe them the funds, irrespective of it being their mistake. They cannot penilize you for it i.e: charge intertest that you would not have paid, or make additional money on the deal. However as they have inconvienced you, they should allow you to settle the debt in a manner that you have been doing without additional fees.\n\nYou may be entitled to compensation for damages if for example you had already budgetted for another item. In that case a lawyer would be the person to handle that.
132580
I got an equity line of credit through my current lender and there were no closing costs or appraisals.  It was fast and free, basically.  I have a $49,000 line of credit and just use it like a checkbook if I need it.
432316
Call your bank now and see what your options with them are. A short sale on your credit report is not 1/2 as bad as a foreclosure.\n\nA neighbor of mine was going into foreclosure. They got the bank to accept a short sale instead. The agent listed the property well below market and ended up having a bidding war with 4 different buyers. They ended up $40,000 short of the fair market value but it actually paid off the note in full (no short sale), got them out without a foreclosure on the credit report and sold the property in 5 days versus 30-60 for a traditional sale.\n\nAs for the value falling... Do you owe more than the property is worth now? If not, there should be options for you.\n\nBest of luck!\n\nKevin 866-562-6838 x 106\nkruorock@firstratelending.com
289470
I don't understand the sheriff in this. If they told you this then it is probably not true. Just another scare tactic. Get the amount in writing first, on their letter head and signed by someone there. Then and only then give them any money to settle. Get a cashiers check for that amount. Make a copy of that and the letter. Send the Cashiers check to them over night. Then once posted to your account then have your loan officer obtain an update on the account from the credit company they pulled from. This will take about 5 days total to complete. He or she can then re-pull an updated credit report to report the settlement was accepted on this account. Retain all information in a file for any further discussions with the collection company.