Mortgage company is trying to screw me. - Ferrari Life
 
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post #1 of 6 Old 04-30-2004, 06:41 PM Thread Starter
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Mortgage company is trying to screw me.

I refinanced my house last year. The company that bought my mortgage immediately turned around and sold it to another company. Now I get a letter 8 months later from the first company saying how they got screwed and I owe them $1,135. The letter said that it is very important that I take care of this issue immediately or they will take further collection action.

I'm a busy man, why is it my job to figure out how they got screwed? My feeling is that when they sold my mortgage they gave the new company the title to my house marked "Paid in full". The new company would not accept any deal that wasn't free and clear. I'm thinking I should tell them to go pound sand. You made a mistake, eat it or sue me.

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post #2 of 6 Old 04-30-2004, 08:30 PM
 
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I'm not an attorney, but for what it's worth it would seem to me that it's a problem between them and the new mortgage holder.

They're the ones that chose to sell off your original mortgage. You didn't screw them, the people they sold it to did; so how is that your problem?

Just my 2 cents.

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post #3 of 6 Old 04-30-2004, 09:25 PM
 
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I think EBS is right.
You did not make them sell it; they chose to.

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post #4 of 6 Old 05-01-2004, 07:15 PM
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Let me see if I can help you. I'm in the mortgage business. As you describe it, the new mortgage company claims you owe them $1135. If I were you I would speak to someone there to find out why? I wouldn't recommend ignoring them as they have the right to foreclose on your mortgage and might, even if it's a clerical error on their part. I know, I know...Life isn't fair.

That being said, the only reason I cpuld see them having any claim against you would be something to do with your escrow (taxes and insurance). Make sure this is not the reason they are looking for an adjustment. The only other thing I can recommend would be for you to read your HUD settlement statement (from the original refinance company). This will have the terms of your loan,

Hope this helps, make sure they didn't ding your credit during this mistake.
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post #5 of 6 Old 05-01-2004, 07:48 PM Thread Starter
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Quote:
Originally Posted by LK1
Let me see if I can help you. I'm in the mortgage business. As you describe it, the new mortgage company claims you owe them $1135. If I were you I would speak to someone there to find out why? I wouldn't recommend ignoring them as they have the right to foreclose on your mortgage and might, even if it's a clerical error on their part. I know, I know...Life isn't fair.

That being said, the only reason I cpuld see them having any claim against you would be something to do with your escrow (taxes and insurance). Make sure this is not the reason they are looking for an adjustment. The only other thing I can recommend would be for you to read your HUD settlement statement (from the original refinance company). This will have the terms of your loan,

Hope this helps, make sure they didn't ding your credit during this mistake.
I appreciate your help! What the problem seems to be is a gap in the payment schedule. The first company is saying that there was a gap when the loan was transferred and they didn't get their payment for last July. Now they are after me 9 months later and say I must take care of this issue immediatly!! I don't see how they can foreclose on the loan because they don't hold title to the house.

9 months later and they are saying it is important that I deal with it!

Capt. Pete
'79 308 GTS, '82 Jeep CJ7 Jamboree
"Time is what prevents everything from happening all at once."
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post #6 of 6 Old 05-01-2004, 08:48 PM
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First thing to do is read your mortgage. After you understand your obligation, tell them to pound sand if you are correct. If you have made your payments as stated on the papers you have sighed, then what is the problem? It is not your problem but the servicers (the collectors of the monies due on the loan). By the way, their are not the owners of your paper but just a company which collects the owner’s money.

8)

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