Under Additional Disbursements on my mortgage...question.

As stated in the title under additional disbursements in the paper work is listed the only thing that was on our credit report which was an amount due to a lawyer that was used in the past. The amount was $850. It is under debits. I am wondering what this means, is this suppose to be paid with the amount we borrowed by the lender or what? Thank you, Lee

That is what it looked like to me as well, but we are still paying our monthly payment and I don’t believe the amount has changed. I will ask our loan officer asap. Thank you for the fast response, Lee p.s. we have already closed on nov. 8 and are living in the house. I was just going over the paper work because we got an “invoice” for the property taxes. So i was just reviewing the paperwork for that information.

- Lee A. - Dec 22, 2013 at 2:36AM

i guess i should say we are making the payment we agreed upon to the lawyer still. and for some reason there was a 25$ adjustment this month on the receipt that comes in the mail monthly from the law office. So definitely not sure what is going on but I don't want to make these payments to them if it should be paid out of the loan we are paying interest on.

- Lee A. - Dec 22, 2013 at 3:35AM

@Lee A. If you've already closed, the settlement statement (aka "HUD") will show who received what funds from the loan. If it is listed there, the amount shown should have been disbursed by the title company to the attorney. If it is only shown as an account you owe on on the credit report but not reflected on the HUD, it was listed because it was a monthly liability that had to be reflected in your debt to income ratios.

- Ted R. - Dec 23, 2013 at 12:32AM
1 Answer

Sounds like that is a collection that is required to be paid out of your loan proceeds. Ask your loan officer to confirm, but from what you've said, it appears it will be paid at closing, presumably from the proceeds of the loan.