Saturday, March 14, 2009

I bought 20 acres of land and the bank made a mistake on the loan amount in the contract.?

I bought 20 acres of land, and the bank made a mistake on the loan amount in the contract. I financed $30, 000.00 dollars but my contract has me paying back only $17,300.00 not the $30,000.00 that I borrowed. And the 36 months contract is almost payed.

But it is figured at the $17,300.00 and not the $30,000.00 the amount it should be.

My question is can the Bank make me go back and rewrite the loan. Or is it going to be a WIN for me. Because this is what the contract states. The contract is binding and we both signed it. And they are the professonels here, and it I fell behind in my payments they have no mersey for me.


hook if you can dude, you need lawyer advice not us

If the loan contract says that they loaned you 17,300, but they actually gave you 30,000, then I presume they can get a court order for you to return the extra money.

If the bank mistakenly puts $2million in your account, it isn't yours. This would look pretty similar to the courts.

If I were you I would tell them and get them to redraw the loan documents, or do an additional document. They may be nasty about it; somehow banks are like that. But if you don't tell them, when they find out for themselves they will be a lot nastier.

Perhaps talk to a lawyer about it? It would be best to know your rights and responsibilities.

It sounds too good to be true that you'll actually get away with it. But good luck!

If they want to play dog-eat-dog, they've got no moral high ground.

it sounds like a legal and binding contract, sinse both parties signed it. and they would have to take you to court to make you pay, but I bet there lawyers are better paid than yours so who do you think will win, and what do you think is morealy right

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