The closing attorney for the sale of my Concord NH home was aware of the necessity to payoff my FHA loan at a certain time to avoid additional fees. The payoff was rejected by my lender because is wasn’t a “certified check, cashier’s check, or bank wire”, as required by the lender’s Payoff Statement. After being contacted by lender, he then sent a certified check which was received after the deadline and I was charged additional interest and fees. It isn’t a ton of money but what can I do?
Your closing attorney should be responsible for any additional interest and fees since the requirement that a payoff be made in “certified funds or wire” are usually clearly stated on the payoff statement by the lender. It is the attorney’s responsibility to carefully read the payoff statement and collect enough interest and fees on the settlement statement to cover the payoff amount up to a certain date.
The Beliveau Law Group: Massachusetts | Florida | New Hampshire
The Concord NH Closing Attorneys at The Beliveau Law Group provides legal services for all residential and commercial real estate transactions. We serve individuals and businesses in Concord, New Hampshire and the surrounding communities including: Boscawen, Louden, Epsom, Pembroke, Bow, Hopkinton and Webster, NH.