I'm not looking for sympathy, just asking if someone can point out a TILA violation. The payoff statement the closing agent received was correct, he wrote down the wrong amount (his error). The interest was a bit more than $2000 so the figure did not leap out at me. I had NO IDEA that he wrote down the wrong amount.
Goodness Gloria, did you have a bad day? I'm not looking to be attacked, just trying to understand the law when it comes to a mistake made on the HUD1.
"obviously you were aware that there was an error. Seems you should have said something then."
NO, I was not aware of the error at closing, but thank you for attacking my character. Once again, the interest amount was in the neighborhood of the discrepency, therefore, I did not catch it.
"If the HUD1 had been overstated by $2000 bet you would have spoken up, huh? You are always given an opportunity to review the HUD1 and ask questions. Why didn't you question the possible inconsistency before you spent the dough?"
I would have questioned it if he had done his job correctly. You bet! Once again, everything looked fine! I looked over the figures and the payoff was the same as my latest MTG statement.
"AND, by the way, closings DO sometimes take longer than anticipated for various reasons. Most of the time it's the fault of the parties involved, but, for goodness sakes, whatever gave you the idea that the interest would stop running?"
I do understand that there are delays in closings. In this case, the closing agent made all of the errors. He didn't even send my payoff until two days after the rescission period had ended. He forgot! As for the interest, I didn't think anything of it. The payoff was a bit higher than my last payoff showed!
"By the way, you aren't banker, are you?"
I am a licensed investment rep. So, you could say that I am a banker. Also, of the actual bankers that I spoke with (actual bankers), they agree that a mistake popping up after the rescission period has ended is a problem. Most, have advised they would fight it and that I should simply refuse to pay the $2000. I, however, prefer to pay what I owe. I simply do not feel the closing agent deserves my money for his lack of service.
Now, back to my question. Can someone please explain what would constitute a TILA violation. Would the APR have to be effected by a certain percentage (.25% - in this case it would not) or would the figures have to be off by a certain percentage (in this case it would be). I'm looking for facts, thanks again for the help.
By the way, I apologize if I am coming off as rude, but attacks on my character tend to upset me.