Mortgage breach of contract
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Mortgage breach of contract
I am not sure if our mortgage company calculated our ARM correctly. Based upon the terms of our loan I feel it should be at 8.3%, they calculated 8.5%. Is this a breach of contract? Do we need to find a lawyer? What could come of this?
Asked on June 29, 2009 under Real Estate Law, Florida
Answers:
J.M.A., Member in Good Standing of the Connecticut Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
I am a lawyer in CT and practice in this area of the law. I would need to see a copy of the loan douments in order to determine the answer to your questions. I suggest that you take the documents to a lawyer or an accountant to look at to figure out if the lender made a mistake. If the lender miscalculated, then you should be able to get a credit for your money. If they dispute the issue then you will need to hire lawyer to fight, especially if your claim has merit.
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