For the first time we made an electronic payment to the mortgage company using our online banking. Two weeks after the electronic payment was send we received a letter of delinquency stating we missed our payment. We contacted them directly and found out we had a typo in our account #. The mortgage company found our money in the wrong account, which they stated was closed (Why didn't the system reject our electronic payment?). They told us that they would fix the problem and that no harm was done.
Now a week later they called and said that their system cut a check to the person owning the closed account who cashed it immediately. The mortgage company is now holding us responsible for this error on their end and they want us to resend our payment. After some yelling they agreed to credit freeze our account until they retrieve the funds back, without posting our payment to our account.
Is it legal that the mortgage company holds us responsible for the payment they gave away?
2006-09-28 00:03:25 · 4 answers · asked by Avatar the last airbender 3 in Business & Finance ➔ Personal Finance
Does anybody where we can file a complaint, besides BBB and Federal banking authority?
2006-09-28 00:04:19 · update #1
NO. I don't know what kind of two-bit mortgage company you have, but if they found that you sent the money, sent it on-time, found it in somebody elses account, agreed to credit it to your account, then cut the other guy a check with your money, that is THEIR responsibility. I would be on the phone every day, asking for the next person higher up on the corportate ladder until someone agreed to my satisfaction. Also write a letter everyday, keeping copies and consult a legal service if you can get a free consultation.
2006-09-28 00:08:47 · answer #1 · answered by Joey 4 · 0⤊ 0⤋
If you cannot get this resolved in a week, talk to a lawyer and then talk to you congressman. They have a lot of influence with finance companies. They can at least get you past the initial layer at the bank.
2006-09-28 08:39:22 · answer #2 · answered by Fermat 4 · 0⤊ 0⤋
It would seem that it is a shared fault. Your fault for entering an incorrect account number and their fault for not refunding the money to you. In both cases it appears that the obvious defense is computer error.
2006-09-28 07:09:47 · answer #3 · answered by Letsee 4 · 0⤊ 0⤋
they sound very incompetent
2006-09-29 10:07:34 · answer #4 · answered by Anonymous · 0⤊ 0⤋