Is it legal for them to charge me that? They want it now with my home loan payment. I can't afford that kind of money! Help! While I may have been late with my payment in the past because both parents died within 4 months of each other I can't believe they are doing this! I may be homeless over $1000 :(
2007-01-09 12:48:39 · 3 answers · asked by norcaligirl247 1 in Business & Finance ➔ Renting & Real Estate
As a mortgage lender, I must tell you this sounds very strange to me?! Is the escrow deposit being treated as a security deposit for future payments? Or is there a problem with your taxes or home owners insurance? If it has something to do with taxes or home ins, maybe you can split the $1000 over 12 months and pay a little at a time - have you asked that or have they offered? I need some more info in order to help you out or explain this to you. Another long, boring (i find it boring) thing for you to do would be to read your deed of trust, this will have all the legal things the lender can do to you, it might help.
2007-01-09 15:03:52 · answer #1 · answered by amy23 3 · 1⤊ 0⤋
why are they charging you a fee? How many times were you late? I'm sure there is some clause in your mortgage agreement that allows them to do that. I would call them and then follow up with a written letter about why you were late and that it won't happen again. They also could have pulled your credit report--lenders and credit card companies do this even after they give you credit and if they see that you are late on something else, sometimes they start to tighten the noose on you even if you weren't late with them. Talk to them, try and negotiate something. Good luck!
2007-01-09 20:57:51 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It probably is legal. Have you tried explaining why you were late?
2007-01-09 20:58:43 · answer #3 · answered by geo.plrd 4 · 0⤊ 0⤋