j_MCCARTER
New Member
My jurisdiction is: Michigan
My mortgage keeps getting sold to new people. I have alwas paid ahead & it is a bi-monthly payment plan. I did not believe the balances Company B claims company A transferred to them. I had followed a amortization chart given to me by company A paying against the exact amount of principal of future payments to I could easly track exactly what the balance should be. After going payment by payment & making sure extra payments were applied to principal, we got within $150 of what I said the balance should be. Company B is telling me the amortization chart I was given by Company A was incorrect and this is why we are still about $150 off. I decided I would accept this but told Company B I don't want to go through this again so I want a new amortization chart - with the formulas so I can check it myself. Company B sent me a new chart but with no formulas. I again asked for the formula version (so I could check formulas were correct) they told they cannot send me that version. I have tried to run my own amortization chart based upon what they say my balance is & interest rate & I do not come up with the same chart principal & interest amounts they gave me. Now I'm concerned they are not basing my interest on the bi-monthly payment plan I signed up for on the original mortage (about 5-6 companies ago). When signing the mortgage I remember something about truth in lending laws. Can I use this to force the Company B to provide the formula driven amortization chart as I requested?
My mortgage keeps getting sold to new people. I have alwas paid ahead & it is a bi-monthly payment plan. I did not believe the balances Company B claims company A transferred to them. I had followed a amortization chart given to me by company A paying against the exact amount of principal of future payments to I could easly track exactly what the balance should be. After going payment by payment & making sure extra payments were applied to principal, we got within $150 of what I said the balance should be. Company B is telling me the amortization chart I was given by Company A was incorrect and this is why we are still about $150 off. I decided I would accept this but told Company B I don't want to go through this again so I want a new amortization chart - with the formulas so I can check it myself. Company B sent me a new chart but with no formulas. I again asked for the formula version (so I could check formulas were correct) they told they cannot send me that version. I have tried to run my own amortization chart based upon what they say my balance is & interest rate & I do not come up with the same chart principal & interest amounts they gave me. Now I'm concerned they are not basing my interest on the bi-monthly payment plan I signed up for on the original mortage (about 5-6 companies ago). When signing the mortgage I remember something about truth in lending laws. Can I use this to force the Company B to provide the formula driven amortization chart as I requested?
