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[mortgage] What to do about this?
#11
What are they assessing? The property value? Your credit-worthiness? I'd ask for written clarification and proof that my mortgage documents permit said charge. You might want to check your credit and make sure they haven't incorrectly dinged your report, since they seem to think you're late.
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#12
M A V I C wrote:
Well, it's 9yrs old but it was refinanced almost 2yrs ago.
?

[Image: attachment.php?aid=21]
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#13
SDGuy wrote:
[quote=M A V I C]
Well, it's 9yrs old but it was refinanced almost 2yrs ago.
?
Exactly!? Unless your "refi" was actually a modification of the original mortgage terms, you got a new mortgage 2 years ago. The old mortgage would have been discharged as part of a refinance. The terms also would be in what you signed 2 years ago, not the older mortgage paperwork.
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#14
JoeH wrote:
[quote=SDGuy]
[quote=M A V I C]
Well, it's 9yrs old but it was refinanced almost 2yrs ago.
?
Exactly!? Unless your "refi" was actually a modification of the original mortgage terms, you got a new mortgage 2 years ago. The old mortgage would have been discharged as part of a refinance. The terms also would be in what you signed 2 years ago, not the older mortgage paperwork.
"After ~9 years with the same company" - that's what I mean. I've had the same company for 9yrs. And yes, I did read the updated paperwork 2yrs ago.
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#15
I think you're dangerously close to needing an attorney. Pull your records, read everything, and build a transaction chain and correspondence chain. A registered letter to the mortgage processor denying the $150 scam (and quote chapter and verse on the agreement you actually signed, not the one they think they have), and demanding legal proof of this balloon payment, is sorely needed.

Predatory bastiches like this make a lot of money scamming people. And... good luck ! Our previous mortgage was with a small local bank that signed an agreement to never, ever, ever sell a mortgage. And they didn't. And they're growing, but staying local. Not all bankers are scum. It just feels that way.
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#16
you would have to be in good standing to refinance, so that wont clear this problem.
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#17
Your rights will vary from state to state, some are highly regulated to protect the (ignorant) consumer, others have minimal regulation. I agree with others, get an attorney.
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#18
He wasn't describing a balloon payment here. It seems that his account was credited with a payment that he did not make. He is reluctant to report the incorrect credit because the incompetence displayed by the company suggests that any efforts to "correct" the mistake would likely over-correct and so screw him. It may be best to submit regular payments as though the "overpayment" had not occurred and wait to see if the error is corrected.

This periodic $150 assessment sounds like a real scam. If it is commonly written into the contracts of many of their customers, they may be assuming it is in his contract even though it is not.
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#19
mrbigstuff wrote:
the large payment may have been an amount kept in escrow by the original holder.

This is ringing a faint bell for me. That seems very likely.
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#20
Was it exactly $150? What's the company? You'd think it would be possible to find someone else mentioning it on the www.
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