Posted on: 20th Aug, 2009 08:31 am
I found out today that when I though we were refinancing our balloon note, the bank instead did a modification/renewal of the loan, gave it a new loan number, new payment amount (higher amount), and back dated it to October 9, 2008, the paperwork according to the lawyer was not even completed until October 29 and we did not recieve it until October 31. I was under the impression that my first payment would not have been due until December 1 but they put in the paperwork the first payment being due on November 9 but they did not notarize the loan papers until November 10th, is there anyway to dispute or argue this?
who is this bank's supervisory agency? check with your local (state) banking department and see if they might be interested in helping you investigate this practice (what do you think they'll say?).
give up disputing or arguing with the bank - kick it up a notch to a regulatory body and you'll see how swiftly the bank will come into compliance. if that's how they do business, they deserve what's coming when the appropriate party investigates.
give up disputing or arguing with the bank - kick it up a notch to a regulatory body and you'll see how swiftly the bank will come into compliance. if that's how they do business, they deserve what's coming when the appropriate party investigates.
I am not sure where to find the banks regulatory body, the are a local bank "First National Bank". Where would I go to find it and is this practice not allowed?
you can call them up and ask that question. you do not have to tell them who you are.
i guess you are in texas. check with the texas banking commission (or whatever name they go by down there) for details also.
i guess you are in texas. check with the texas banking commission (or whatever name they go by down there) for details also.