Consumer complaint received 2019-05-31
Company: Stewart Information Services
State: FL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
In XXXX of XXXX we sold the property : XXXX XXXX XXXX XXXX XXXX, XXXX XXXX, Fl. XXXX. 
We did the closing on XX/XX/XXXX. The closing was done by Stewart Title Agency in XXXX XXXX ( a local branch for Stewart Title Co ). The agent 's name was XXXX XXXX. At the closing table we told Ms XXXX that the numbers did not look right as the pay off was more money than we were expecting ( {$16000.00} more ) MsXXXX XXXX went inside her office and spent few minutes checking the numbers and papers, after a while she came back saying that everything was fine. My realtor was present as a witness. All the documents presented at closing to be signed had the correct address of the property we were selling. 
On XX/XX/XXXX / XXXX, we received a " Mortgage Satisfaction '' letter, but not from the property we sold, but from another of our properties. We let Stewart Title know about the mistake. They contacted XXXXXXXX XXXX ( bank for the wrong property that was paid by mistake ) and requested the money to be returned, but XXXX XXXX stated it was too late and the transaction could not be reversed. The local title company could not give me any answers and referred the case to their headquarters in XXXX TX, with their attorney ( XXXX XXXX ) and they recommended that we look for a lawyer. 
On XX/XX/XXXX / XXXX, Stewart Title began to blame us for the mistake saying we had provided a wrong loan number. I want to explain this in details : Stewart Title had asked us to provide the loan number days before the closing. We provided the Mortgage Insurance number instead. That mortgage insurance number was the number that appeared on the closing papers when we initially bought that property ( the one we sold ). This number HAS NOTHING TO DO with the loan number of the property Stewart title paid by mistake. ( See attachments ) THE NUMBERS WERE COMPLETELY DIFFERENT. 
At the beginning of the negotiations between my attorney and Stewart Title 's lawyer XXXX XXXX he said they did not want to get into a litigation, and that we could get into an agreement. Stewart Title admitted that they made a mistake and that we could work together to solve it, they initially proposed to generate a new loan for us without closing costs and with the same interest we had for the property they paid by mistake, and that we had to return the {$16000.00} so they could pay for the right property ; that they would pay for all expenses including money for my lawyer expenses, etc ... 

After many months of negotiations, Stewart Title lawyer ( XXXX XXXX ) said that they could not generate the loan for us because Stewart Title has been bought by XXXX. He asked us to look for an external bank that could take care of refinancing the property paid by mistake and then to use the money to pay the right property. Mr. XXXX asked us to present him all the expenses after this were done, and then they would pay for all the damages. 
So we went ahead and refinanced the property paid by mistake, ( Documents Attached ). 
We got from the refinance the amount of {$90000.00} after Closing Costs, so we had to add the {$16000.00} to complete the amount of {$100000.00} that we own in order to pay off the correct property. Off course after refinancing the property was paid by mistake we ended with a higher interest than the one we had before the mistake. Also during all this time from XX/XX/XXXX until XX/XX/XXXX, we had to continue paying the property that was sold, even though it had another owner, to avoid a damage in our credit. 
Besides that we had to pay for insurance in that property and property taxes. 
When my lawyer contacted them one more time to recover the damages as they promised, Stewart Title said they WON'T PAY anything, and again the lawyer ( XXXX XXXX ) stated it was our fault for giving the wrong loan number and stated that we had never returned the {$16.00} k we got extra at the closing, when we have already spent much more than $ XXXX fixing their mistake. 
My lawyer told us that the next option was a lawsuit in court, but at this time we cant afford paying for litigation, as it would cost near {$50.00} k. 

This is the list of expenses we have had so far in these two years due to Stewart Title ERROR. 

Attorney Fees {$10000.00} Closing Costs {$10000.00} ( from Refinance ) Closing Costs {$16000.00} ( Cash ) to complete the amount of {$100000.00} that we own on the mortgage that was never paid Forced Placed Insurance on XXXX XXXX XXXX ( Property Sold ) {$2800.00} Beside that we ended with a higher Interest for the new loan of the property Stewart title paid by  mistake and we had to refinance. In 30 years we will pay {$37000.00} extra do to the new refinance. 

My complaint is for the local Stewart Title Company in XXXX XXXX but also for Stewart Title Company Corporate Headquarters XXXX Texas XXXX. 

XXXX XXXX XXXX XXXX XXXX XXXX

Company response to consumer: Closed with explanation