A young rabbi was in the process of buying his first home - a simple place that fit both his family's needs and his limited finances. As he sat in the mortgage office going over the closing paperwork, he carefully examined all of the numbers: the principal, the interest rate, the amortization schedule, and the monthly payment.
Then, something caught his attention. He looked over the calculations again and realized there was a major mistake in the contract - a miscalculation by the mortgage company that happened to benefit him. With the stated loan length and interest rate, his monthly payment should have been higher. The lender had unintentionally undercharged him by several hundred thousand dollars over the full term of the loan. Had he simply signed the closing paperwork as it was, he would have secured far more favorable terms than deserved and would have saved a considerable amount of money.
Nevertheless, as a man of Emes (truth), he spoke up and said to the loan officer, "Excuse me, but I think there is an error here. The numbers do not seem right."
The officer glanced at the paperwork and said confidently, "Rabbi, everything has been checked by our team. These numbers come from our systems and are verified by professionals."
"Nevertheless," the rabbi continued in a composed manner, "I would appreciate it if you could review the calculations once more. The monthly payment appears inconsistent with the stated interest rate and the length of the loan."
"Rabbi, with respect, we routinely handle these calculations, and our software is designed to ensure accuracy. I am confident that there are no errors."
Despite this assurance, the rabbi remained firm, "I would be more comfortable if the figures were independently verified. Please verify them again."
With a reserved sigh, the loan officer excused himself, carrying the closing paperwork to a senior colleague for an additional review. Several minutes elapsed as the rabbi waited patiently, confident in his position.
Upon the officer’s return, his demeanor had shifted; the previous assurance was replaced with evident discomfort and embarrassment.
“Rabbi,” he began quietly, “I must apologize. You were correct - there was a significant miscalculation on our part that could have resulted in considerable financial loss for our company. I am uncertain how you detected the issue so quickly.”
The rabbi responded with composure, “These things happen from time-to-time. I am pleased the error was identified prior to the execution of the agreement.”
Because of the rabbi's attention to detail and commitment to Emes, the correct figures were recorded, the paperwork signed, and the transaction was concluded fairly and honestly.
