In the fall of 2005, I made a large payment toward my principal on my home mortgage from my Social Security disability settlement. Right after, I received a letter saying that I was being charged 298.25 for 'outstanding advances due from borrower'.
I called and asked what it was for, was told that they did not have to tell me what it was and that I had no right to proof.
I sent them a letter with laws about credit and debt collection I got online from the Federal Trade Commission that said that indeed I was intitled to know what the amount was for and they needed to show me proof.
In a follow up call, I was told the amount was for people in my city to 'drive by' my home in 2001 and see if someone lived here and to search online records to see if I still owned the house!
I feel the mortgage company is wrong to charge me for this 3 years after the fact and not provide any proof to this day.
What do I do and what agency can I talk to?
2007-03-02 05:23:17 · 5 answers · asked by queenlint1 2 in Business & Finance ➔ Renting & Real Estate
Hoo boy, I understand your situation. Problem is, there is likely very little you can do. My wife and I had a similar, but worse, problem with our bank years ago and they basically told us to go suck wind.
You can try to pick a fight with them, but I doubt you will get anywhere, sorry :(
Laurin Jeffrey
Toronto Condos and Lofts
www.jeffreyteam.com
2007-03-02 08:17:46 · answer #1 · answered by Laurin Jeffrey 2 · 0⤊ 0⤋
At the time you applied for your mortgage your lender should have provided a statement.
This charge and information is probably in your original mortgage papers. If it is not, then you don't have to pay it, but be prepared to face serious legal problems.
If I were in your shoes, I'd just pay it, unless you can afford an attorney, you can't win.
2007-03-02 05:29:14 · answer #2 · answered by vicarious_notion 3 · 1⤊ 0⤋
This is not lawful in any way. Ask them to show you the clauses in your deed of trust or any other document that you signed at closing that authorizes this type of expenditure to be recaptured by them. Remind them that you have a copy of everthing that you signed.
2007-03-02 05:31:19 · answer #3 · answered by golferwhoworks 7 · 0⤊ 0⤋
This doesn't sound legal to me. I would contact an attorney for advise.
2007-03-02 05:51:20 · answer #4 · answered by Anonymous · 0⤊ 0⤋
contact your local HUD www.hud.org
2007-03-02 06:17:20 · answer #5 · answered by ron d 3 · 0⤊ 0⤋