I have a house I sold in GA. There was a small amount I received as seller's proceeds. The laywer who performed the closing sent me the check which I deposited in the ATM Friday night. This morning I receive an email (not even a call or proper grammar email) from the closing lawyer informing me that he stopped payment on the check, "DO NOT DEPOSIT" because the mortgage compnay did not include a prepayment fee in the payoff. My bank can't do anything until it is returned stop payment, then I get a $32 fee. Is this right? The closing documents all state I should have gotten the full amount, now he is changing it. Is there anything I can do, or am I screwed?
2007-11-26 03:42:19 · 6 answers · asked by Anonymous in Politics & Government ➔ Law & Ethics
Now I am getting about $2000 less than originally thought. He sent me a check for $x, now he stopped payment and I am getting $x less $2000
2007-11-26 03:50:37 · update #1
Ok~ I sold my house through a lawyer. The buyer gave a check to the lawyer who wrote a check to my mortagage company and myself, after he took out his fees. The mortgage company gave him a payoff that did not include a prepayment penalty, so the payoff was $2000 short. He stopped payment on the check from him to me. I am stuck paying the stop payment fee and I am out the $2000 I anticipated getting from the sale. All of our closing docs state the payoff amount that he got (which wasn't including the prepayment penalty) and stated I would get $x. Now I sold my house for next to little money ( I have 3 houses and recently divorced, this was a rental that I didnt have time or money to give) and now I am just irritated that I have to jump through all these hoops waiting to get my money. Now that he stopped payment he is waiting to reissue me a check.
2007-11-26 05:05:50 · update #2
It sounds like you will get the proceeds, but the prepayment fee for whatever has to come out first, so you actually got more money then you are entitled to at the moment. You will end up with the $32.00 fee, but you can always ask your lawyer to pay it or the one that canceled the check. They are not likely to, but they may take pity and send you the $32.00 bucks.
2007-11-26 03:47:09 · answer #1 · answered by wife2denizmoi 5 · 0⤊ 0⤋
You signed the paperwork. They buyersugned the paperwork. The lawyer or the mortgage company screwed up. They shouldn't be able to change it after the fact. If they didn't charge you a fee, that is their mistake, not yours.
But at the same time, you signed a contract with the original mortgage with the prepayment penalty in it. I would contact another attorney. A couple hundred dollars to him could save you alot of time and hassle.
2007-11-26 11:47:36 · answer #2 · answered by Meghan 7 · 0⤊ 0⤋
So the way I am understanding this is, your closing att. forgot to get his fee. who ever put a stop payment should pay the bank fee. also if the check was written to you from the buyer I don't think the lawyer can stop payment on a check they didn't wright.Also it is customery for the seller to pay closing cost. Which all contracts should have had stated and closing cost should have been assessed before you got your check.
2007-11-26 12:02:25 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Ask him to pay your $32 fee ..
.. but you know what they say - "where you going to get a lawyer to sue another lawyer ?"
2007-11-26 11:47:13 · answer #4 · answered by Steve B 7 · 0⤊ 0⤋
There is a way to check in the county courthouse where the transaction occured. The money for overpayment is held in escrow and you can get it.
2007-11-26 11:46:48 · answer #5 · answered by Southern Comfort 6 · 0⤊ 1⤋
Get a lawyer and ask.
2007-11-26 11:46:49 · answer #6 · answered by Anonymous · 0⤊ 1⤋