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+--- Thread: [mortgage] What to do about this? (/showthread.php?tid=141504)
[mortgage] What to do about this? - M A V I C - 09-14-2012
After ~9 years with the same company, my mortgage was sold. The new company promptly charged us some vague $150 fee. We asked why. Never really got a good answer. First they said it was because we were late paying the previous company, which wasn't true.
Then after a half dozen or so people, one rep said it's because our mortgage allows them to verify the property ever 90 days and to do an optional assessment. The fee is for them to do the assessment. I don't recall ever seeing that they could charge us for that, and I did read all the paperwork.
We're not sure what we're going to do about this. Kinda peeved but after getting the runaround so much, it's almost worth not dealing with it. Though, if we have to now deal with this every 90 days for the next 20 years...
But now something else has happened. There's a large payment towards our principal and we have no idea where it came from. The new mortgage company has been a pain to deal with. I can just imagine them removing it, then later when they figure out where it came from, removing it again. At the same time, if someone made payment and it somehow got credited against the wrong account, I can see how someone else could be fighting a tough fight... but that doesn't mean if we brought this issue up, their issue would get solved. I imagine this issue will likely get sorted out without our intervention.
Is there any sort of government agency we can contact to talk to about this? Seems like the easiest way to go about this.
Re: [mortgage] What to do about this? - michaelb - 09-14-2012
what they can do really depends on the terms of your promissory note. That can't do anthing that isn't permitted there. Sounds like a balloon payment do they have the ability to call for that?
Look up the foreclosure counseling office for your state and area. If they can't give advice, they should be able to make a referral.
http://www.hud.gov/offices/hsg/sfh/hcc/fc/
Looking my state, as there are more and more grants to do this work, the programs offering this have expanded, so that can be a bit confusing. This sounds more like "HUD approved counseling" then "foreclosure mitigation" but either may work.
Re: [mortgage] What to do about this? - colonel panic - 09-14-2012
Time to refinance with another broker. You'll probably be able to reduce your payment and the term.
Good luck.
Re: [mortgage] What to do about this? - Jimmypoo - 09-14-2012
You are such an pathetic, helpless dolt. You had a closing attorney. USE THEM.
Re: [mortgage] What to do about this? - space-time - 09-14-2012
refinance NOW before they figure out where that large payment came from
Re: [mortgage] What to do about this? - space-time - 09-14-2012
which bank is this?
Re: [mortgage] What to do about this? - davester - 09-14-2012
Definitely refinance. If your mortgage is 9 years old you are paying far more than you ought to be.
Re: [mortgage] What to do about this? - M A V I C - 09-14-2012
Well, it's 9yrs old but it was refinanced almost 2yrs ago.
Re: [mortgage] What to do about this? - mrbigstuff - 09-14-2012
michaelb wrote:
Look up the foreclosure counseling office for your state and area. If they can't give advice, they should be able to make a referral.
http://www.hud.gov/offices/hsg/sfh/hcc/fc/
yeah, they can only help you if you fall within certain income guidelines.
Re: [mortgage] What to do about this? - mrbigstuff - 09-14-2012
the large payment may have been an amount kept in escrow by the original holder.