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Yesterday my husband and I closed on a house, but at the last minute, the attorneys realized that they had not received the our wire transfer for the closing cost. After a little investigation, we figured out that the loan officer gave us the wrong wiring information the day before. We sent over $10,000 to unknown account. We haven't been able to get it reversed so that we can send the funds to the correct account. We've had to pay another month of rent, we lost out on time, money and we may even lose out on our dream house due to a huge mistake on the lender's part. We are seeking legal counsel, but is there something we can do in the meantime? How can we work with the lender to get our money back?
I'm not sure about your location but in our area, you would ave been told how much to bring to closing thru the closing statement and you would have wired that amount to whomever is responsible for closing. In other words, I don't see why you would be sending money directly to the lender.
We are from GA and were intending to send the money to the lawyers we were doing our closing with. We asked if we could bring a cashiers check or money order and the answer was NO (several times).
I understand that you must wire the funds. I don't understand how it is the lender's fault. It seems that the error would have been the attorney's fault since they should have told you to send them the funds, not the lender.
The loan officer is the person who sent us the wiring information. They have agreed to pay any fees to reverse the wiring, but we are not sure if it can actually be done? We will have to wait until Monday
OP, as others have said, the wire transfer can be reversed. If you have already had to commit to an additional month of rent where you are, and cannot pay per diem to the landlord, the bank should not give you too much hassle reimbursing for that and perhaps any moving expenses over what you already committed to. However, since you already have a lawyer, just be patient and let him/her work it out.
Thanks for all of your prompt responses. I feel so much more hopeful that things are going to work out!
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