Legal Question in Real Estate Law in New Jersey

I closed a loan with a bank for a cash out refinance on May 19, 2011. The bank messed up the HUD-1A form on the column for disbursements of funds to others, which ended up giving me $3000 more in the cash out.The bank paid the shorted amount of for me with unverified funds to close the loan. The bank is now asking me to repay them the $3000. Do I have to repay this money?


Asked on 7/06/11, 1:11 pm

2 Answers from Attorneys
Larry Raiken Larry S Raiken LLC

My initial reaction is that you have to pay back this money. If you want to schedule an appointment please call my office.

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Answered on 7/07/11, 8:20 am
Walter LeVine Walter D. LeVine, Esq.

I agree with Larry. You received more money than you intended to borrow. While it was caused by a Bank mistake, you cannot profit from it. This is a response to an Internet question and the reply is not intended to be legal advice or as creating an attorney-client relationship.

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Answered on 7/07/11, 11:36 am


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