Improper payout
We obtained a construction loan from Countrywide in order to build a house.
We hired a builder and agreed that stage payments would be made via Draw Requests against the loan and paid to the builder by Countrywide.
I submitted a draw request entitled (Draw Request #1) for $15,000 however when my builder asked me to add an item to the request I made a change and resubmitted the draw request as (Draw Request #1 Revised) for the amount of $17,000
Rather than only paying out on the revised request, Countrywide paid out on both of them without my immediate knowledge and without querying the change.
Of course the builder has refused to return the money and Countrywide won't accept any liability.
Any suggestions?
Re: Improper payout
Reduce the next draw by the amount of the overdraft.
