Can a previous mortgage loan company foreclose on a home?
My husband and I acquired a loan through a mortgage company; I'll call this loan company 'A'. We sent our first mortgage pay-out to this company in March, and then we received a missive stating that our loan had been sold, and that adjectives further payments would be due to loan company 'B', starting as of April 1st.
We received our payment coupon from loan company 'B' the next week, stating that our first transfer of funds was due May 1st. We made this payment to company ‘B’.
We consequently received a letter from loan company 'A' stating that they were going to foreclose on our loan.
Company 'A' have forwarded our first check we sent to them to company 'B' without notifying us.
There is no style we can afford to pay a double payment one to both companies, for the clearance they didn't accept and forwarded to company ‘B’ back surrounded by March.
Can they do this?
Our loan is now with loan company ‘B’.
Answers:
I have a similar situation, but my loan was sold 3 times in 3 months. B and C have no record of the payment to company A.
I finally finished up getting the supervisors from all three companies on a conference call and have them notate the file and start working together to track the money down.
It took 3 months to resolve! BUT, company C removed the late transmittal report on my credit within 24 hours of it appearing and it all worked out within the end.
You need to take both of them on the phone NOW with your payment information.
An no, if they sold the loan, they transferred their foreclosure rights...
It does nouns like you missed a loan payment though. If you rewarded company A in March and company B in May, who did you discharge in April?
Stay on them all!
Good luck! Source(s): Experience
From what I get, your April payment was unwittingly forwarded to Company B and applied to your symmetry there. Meanwhile, Company A believes that it is due the April payment. Sounds close to a bookkeeping snafu. Call both lenders and explain what occurred here. Chances are good that they will switch the situation internally with a monetary transfer.
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We received our payment coupon from loan company 'B' the next week, stating that our first transfer of funds was due May 1st. We made this payment to company ‘B’.
We consequently received a letter from loan company 'A' stating that they were going to foreclose on our loan.
Company 'A' have forwarded our first check we sent to them to company 'B' without notifying us.
There is no style we can afford to pay a double payment one to both companies, for the clearance they didn't accept and forwarded to company ‘B’ back surrounded by March.
Can they do this?
Our loan is now with loan company ‘B’.
Answers:
I have a similar situation, but my loan was sold 3 times in 3 months. B and C have no record of the payment to company A.
I finally finished up getting the supervisors from all three companies on a conference call and have them notate the file and start working together to track the money down.
It took 3 months to resolve! BUT, company C removed the late transmittal report on my credit within 24 hours of it appearing and it all worked out within the end.
You need to take both of them on the phone NOW with your payment information.
An no, if they sold the loan, they transferred their foreclosure rights...
It does nouns like you missed a loan payment though. If you rewarded company A in March and company B in May, who did you discharge in April?
Stay on them all!
Good luck! Source(s): Experience
From what I get, your April payment was unwittingly forwarded to Company B and applied to your symmetry there. Meanwhile, Company A believes that it is due the April payment. Sounds close to a bookkeeping snafu. Call both lenders and explain what occurred here. Chances are good that they will switch the situation internally with a monetary transfer.
Related Questions: