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Mortgage company sold during payoff. Now troubles

Discussion in 'Banking, Finance, Investments' started by smrtrq, Jan 26, 2020.

  1. smrtrq

    smrtrq Law Topic Starter New Member

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    Jurisdiction:
    Illinois
    Quick story! Our mortgage was with Everhome mortgage up until approx August 2015. We requested payoff and sent in large lump sum to pay off. Never was told it was in process of being sold. In mean time we thought it was paid off. A couple months later I received a letter about mortgage being with nation star mortgage blah blah blah and we owed the $1500.00 I argued back and forth for months and thought we had a resolution. But in the end it still has come back to haunt. I requested they stop paying our insurance and taxes but they have continued to do it every since. We never receive anything in the mail from them unless they have paid something we clearly didn’t want them to. Several months ago I received a letter stating we could modify and start making payments to clear this up. After calling the number on letter the agent advised me not to do it as I would be starting over with interest and she stated it was not in my best interest. So I let it go. Over the years we have received a few letters on the door asking us to call, but when I have it’s either been something stupid or not the right number. Yesterday I decided to give it another shot on getting this fixed and again they said I had to pay a large lump sum to fix this. Well I don’t have the lump sum. So they offered another modification. My question is before I agree to modify this and agree that I will pay this back all for there mistake not mine I want to make sure there is nothing I can do. Is it possible to get this taken care of without being liable for all the negative escrow? What are my options? I mean they clearly have not been to worried about clearing this up.
     
  2. adjusterjack

    adjusterjack Super Moderator

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    Do you have any documentation of the payoff amount and your payment?

    If you really did pay the payoff in full and have documentation to that effect I suggest you consult an attorney. You're dealing with a bureaucracy and the yoyos on the other end of the phone are your enemies. A lawyer is more likely to know how to get through to the decision makers to get this fixed.
     
  3. smrtrq

    smrtrq Law Topic Starter New Member

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    I have contemplated an attorney however I don’t really have the extra for attorney lump sum to start. thanks for the reply and I will go to looking for papers
     
  4. army judge

    army judge Super Moderator

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    You should be discussing the matter or negotiating a resolution with a person of authority (Vice Resident or HIGHER) employed by the lender.

    You can also speak to a local lawyer to determine if any of your state laws may have been violated by the lender (or prior lender), and to determine if there is some state law remedy STILL available to you.

    Never allow any SERIOUS legal dispute to linger for over 14 days without seeking a remedy, negotiating a resolution, engaging an attorney, or filing a lawsuit.
     
  5. Zigner

    Zigner Well-Known Member

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    Are you saying that the $1,500 was the amount that was left over after the "payoff" you sent in?
    -or-
    Are you saying that the $1,500 was the total payoff amount and it was never recorded as having been paid?

    Why did you never follow up when you didn't receive any paperwork releasing you from the mortgage obligation?
     
  6. MosheStrugano

    MosheStrugano New Member

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    If a lending firm services every loan it financed, it must have many billions of dollars on hand to make sure it had the money available to offer those loans.
     
  7. justblue

    justblue Well-Known Member

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    Huh?
     
    Zigner likes this.

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