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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 116757
Experience:  Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.
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The bank sent me a payment book on my house loan I have 8 payments

Customer Question

The bank sent me a payment book on my house loan I have 8 payments left at 520 a month .my payment book says paid off Nov.1 2016 .after I paid 21 mo. On my loan they called and said the type loan I have I could lower my interest from 7.25 to 6.50.when I called for a payoff they said I owe 11000 not 4150 which is what my book says when they redid my loan they added another year the paperß I signed was neither dated notarized or reçorded at court house do I owe for this year.? I signed for a 15 year loan and this will be 16 years .like I said it was never recorded after 13 years and never completed.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
If you signed the document, even if it is not notarized and they reduced your interest rate, even though they added the additional year, you would have to file a complaint for unfair and deceptive practices with the attorney general's office. If the attorney general cannot resolve this, then you would need to sue in court for unfair and deceptive practices for them misrepresenting the deal to you. Other than that, you signed it, dated or not or notarized or not, you would be bound by it by law.

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