My mortgage company is going to force me into foreclosure

vamptease · Joined: 10 Apr 2008 Posts: 1 2.25 Dollars($)

My mortgage company assigned two payments to the wrong accounts which put me two months behind in payments until they fix the problem. Now I am having financial hardships and cannot make this months payment. That will put me three months behind and put me into foreclosure. The first payment they misplaced I have now sent proof of 5 times and they are still asking us to send the proof again. I even sent the original copy of the cashed money order which I had to pay for from the money order company. I don't know what to do. The mortgage company made the mistakes, and will not do anything at all to fix it. Now I am in danger of losing my house and they will not discuss options with me to save the house of give the house up either.

helping_user

Welcome Vamptease.

I think the mortgage company is responsible for this whole incident and they are supposed to take the right course of action so that you don't have to suffer because it's not your fault, you've paid the payments after all. Is there any chance that you can go and meet them personally and hand over the copy of the payment because perhaps there is some problem with the mail or may be they are simply doing this for their benefit. So, I suggest you fix up an appointment witrh the dept of the company dealing with such affairs and then resolve the issue.

Keep us updated on what the company is saying. May be some of us will be able advise you on what can be your next step.

Thanks.

larry · Joined: 27 Jun 2007 Posts: 2951 411.26 Dollars($)

Hi Vamptease.

Welcome to the forum.

You have made the payments and it is not your fault. So you should not suffer for this Contact with the mortgage company and try to fix the problem. They may not mail you back, or hold you on the phone but you will have to try again and again until the problem is fixed.

Helping user has rightly suggested that you can even contact with them directly and fix the problem.

Feel free to ask if you have any further questions.

Best of luck,
Larry

Guest 0.10 Dollars($)

Hi Vamptease,

Contact the Loan resolution counsellor with your mortgage servicing company or the lenders company. If you fail send an email to their customer relations office, They are obligated to respond within 72 hours of your response with a satifactory response as per RESPA guidelines.

If they dont help, contact the bank's Ombudsman every lender/servicer is supposed to have one, its mandatory,they will resolve your problem.

If that doesn't help complain to OTS(office of Thrift Supervision) This will be resolved by them.

Also, when the lender/servicer is correcting your account they should also correct your credit reporting where they would havereported as defaulted for 3 motnhs and they should waive all fees and costs associated incurred due to misapplication of funds.

Also,since you may have financial difficulties now its better to workout a modification or enter into some lossmitigation program to retain your property.

Caron

But knight how long does it take to resolve such issues? I mean the lender won't give that much time isn't it and would he stop declaring a foreclosure just because the complaint has been filed? I'm not sure about this. Moreover, the poster doesn't seem to have a mortgage payment problem, so perhaps it's not time for him to go for loss mitigation.

gmakerley · Posted: Fri Apr 11, 2008 9:15 am Post subject:

man o man...original poster, do you have an attorney? do you think you need one? i do.

if you are getting nowhere with the lender in trying to resolve the missing payments, you need someone with a heavier hand in your corner to persuade the lender to work a little harder and a little faster to rectify the mess.

imminent foreclosure would seem to be doubtful, particularly inasmuch as the lender is going to have records indicating your contact with them regarding the other 2 payments. do you have a record of your contact with them? have you made any inquiries to them in writing, and kept a copy of your correspondence? these items are critical, and will be most helpful in the long run.

Guest 0.10 Dollars($)

Hi Caron,
It takes about 3-15 days for a written dispute of payment to be resolved from the lenders side,Ombudsman,OTS is the best method to proceed if none can help then Find an Attorney ASAP!!!.

The Foreclosure notice would have gone out on the 60th day of delinquency and foreclosure action begins about 90-93rd day.so the loan will be in foreclosure soon. misapplication of funds is treated as a payment dispute which needs to be resolved on a high priority,if such instances happen with lender multiple times they can lose their license to service loans.

Caron · Posted: Sat Apr 12, 2008 4:41 am Post subject:

Knight, thanks for the details. Yes indeed an attorney help is needed here or else how would the poster negotiate with the lender. So, along with filifng a complaint, the poster can also contact an attorney asap and try to settle the issue.

larry · Joined: 27 Jun 2007 Posts: 2951 411.26 Dollars($)

Hey Mknight,

Welcome to the forum.

You seems really knowledagable. Are you an attorney or a lender? Why don't you join this community? There are so mant people comes here for information and suggestions. I think your knowladge and experience will be helpful for those people.

BTW you can introduce yourself let the community know about yourself at http://www.mortgagefit.com/introduce-yourself.html

Hope to see you soon:)

Best of luck,
Larry

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