A customer originally has a loan for $450,600 closed end construction. He paid the doc stamps based on this amount. He then had a principal reduction of $100,000. There was an advance of $32,000. A renewal was done for $372,000. Now the customer wants his $10,600 that was never advanced.

Question 1. Should he have to pay doc stamps again on the 10,600? I said no, that he already paid for them once and of course there is documentation to prove this.

Hope this is not too confusing... but this is the math: 450,600- 100,000 = 350,600. 350,600+32,000 =382,600. 382,600-10,600 = 372,000.

Question 2. Should there be something on the note or renewal that says doc stamps were paid? Legally?

Thank you whomever takes this on!

You may want to post in the Florida Forum. Doc stamps are a very state specific issue.

Thanks! I always think everyone is Florida based!