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Remedies for poor bank accounting in commercial real estate loan. Any federal recourse ?
The bank repeatedly doubled up the amount of interest reserve used each month and also doubled up the amounts of each construction draw. When the constuction funds and interest reserve ran out, the bank foreclosed and refused to correct their accounting even though we brought it to the attention of their construction specialist and the CEO. Are there any federal remedies like truth in lending for commercial loans ?
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| By
EarleE |
Posted on
07/12/09 Total Answers
2 |