loan closing

Date: Mon, 04/13/2009 - 18:08
Submitted by ladybug on Mon, 04/13/2009 - 18:08
Posts: 2753
Credits:
[Donate]

my ex-husband refinanced a rental property today through his bank. He told the finance lady that he had a prior bankruptcy in 2004 and this had been discharged. She had that marked on the application that he had not had a bankruptcy at all for the past 7 years, he did not mention this to her today because he had talked to her about it when she was filling out the loan papers on Feb. 22nd. She asked him if he had made any large purchases recently and he replied no he had not and that he was not planning on filing bankruptcy. She ran a credit report on him and his credit score is 693 or 695 and so she quoted him an interest rate of 6.37% because of his credit and because it is investment property.

Now he is worried after coming home and reading through the documents that she had made this error. What should he do? The loan has already been sold to mortgage co deleted. and the funds wired to his former loan co this afternoon. Now what can happen to him? He is really worried and he is driving me crazy :oops:


first,good to see ya ladybug.second,i would go to the lady and point out the error.if his fico was 693-695 i think that was the reason for the rate quote.it is best to resolve the problem now.you never know it might not make that much difference in the rate,but it could be bumped.i don't see much happening to him because it's her error not his.


Submitted by paulmergel on Mon, 04/13/2009 - 18:14

paulmergel

( Posts: 15514 | Credits: )