Loans, Debt & Credit - View Single Post

cdmosaic · 08-19-2008, 12:52 PM

Not sure if this means anything or not, but I've been reviweing my loan docs and noticed tht I have two truth in lending statements. The first one recieved about a month prior to signing docs shows an interest rate of 6.539% and amount financed of $407,195. The second one recieved with the deed of trust shows the interest rate of 6.616% and amount financed as $403,622.31. Now they both show the same amount in total of payments, but my loan (subsequently purchased by Countrywide) has a loan amount of $409,000 not $403,622.31. Perhaps it is meaningless but looks odd so I'm wondering if this is normal or something I shold have audited.

Also, is there any recourse for a blanataly high apprasial used to justify the loans? My docs shows $520k which was absurd. Now the value is closer to $300k but no way was it anywhere close to $520k 12 months ago.

Thanks for the input.

08-19-2008, 12:52 PM	#1 (permalink)
cdmosaic Senior Member Join Date: Aug 2008 Location: East Contra Costa County, Ca Posts: 161 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	question about truth in lending doc Not sure if this means anything or not, but I've been reviweing my loan docs and noticed tht I have two truth in lending statements. The first one recieved about a month prior to signing docs shows an interest rate of 6.539% and amount financed of $407,195. The second one recieved with the deed of trust shows the interest rate of 6.616% and amount financed as $403,622.31. Now they both show the same amount in total of payments, but my loan (subsequently purchased by Countrywide) has a loan amount of $409,000 not $403,622.31. Perhaps it is meaningless but looks odd so I'm wondering if this is normal or something I shold have audited. Also, is there any recourse for a blanataly high apprasial used to justify the loans? My docs shows $520k which was absurd. Now the value is closer to $300k but no way was it anywhere close to $520k 12 months ago. Thanks for the input.