Profile picture for rolf78

Mortgage payoff

I closed a VA streamline. Signed the papers. Closed 4 days later. When checking my old loan I noticed $ 1500 less on my escrow I was to get back. Turns out the bank (Wells Fargo) same bank doing the loan messed up the payoff by $ 1500. I got penalized with the mistake (interest which should have been added to new loan) by not getting the whole escrow amount. What to do?
Thx for any advice
  • November 29 2012 - US
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Answers (2)

Profile picture for JeffreyBowen
Contact your lender, the closing attorney and get to the bottom of it.
  • November 30 2012
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It is highly unlikely the Lender issued an initial payoff that was off by $1500, then revised the payoff up for Closing. It is more likely you were initially  quoted using the principal balance instead of an estimated payoff figure, then closed w/out making the payment for the month you closed in resulting in 50 days or so of interest.    
  • November 30 2012
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