Doody v. Ameriquest Mortgage Co.
Doody v. Ameriquest Mortg. Co., 49 S.W.3d 342 (Tex. 2001)
- Court
- Supreme Court of Texas
- Decided
- 2001-06-07
- Docket
- 01-0137
What happened
Ameriquest charged closing costs over the 3% limit on the Doodys' home-equity loan, then refunded the overcharge. The Doodys argued the lien was invalid anyway.
What the court decided
Answering a question from the Fifth Circuit, the Texas Supreme Court held that when a lender cures the overcharge as the constitution allows, the lien is valid.
Why it may matter to you
It explains why sending a written notice of a home-equity defect matters: the lender gets a chance to cure, and if it does, the problem may be fixed rather than the loan voided.
Why it might not apply
Only defects the constitution allows to be cured can be fixed this way; the cure must follow the constitution's steps and deadlines.
Most useful when
- Your home-equity lender overcharged closing costs and then offered a refund
How to cite it
The full citation for the first time you mention it, a short form for later, and a sample sentence you can adapt.
Doody v. Ameriquest Mortg. Co., 49 S.W.3d 342 (Tex. 2001)Short formDoody, 49 S.W.3d 342Draft — check it with free legal aid before you file or say it in court.
In Doody v. Ameriquest Mortg. Co., 49 S.W.3d 342 (Tex. 2001), the court held that a home-equity lender that cures a closing-cost overcharge as the constitution permits holds a valid lien. Here, [say in one sentence what happened in your case]
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