?? re: Mortgage Disputes

[MrsMud]

Does anyone know if there is like a watchdog company for mortgage disputes?

 

[wuv tigger]

What kind of dispute? Usually the state attorney general has a consumer group that oversees lending in the state. Other places might be the better business bureau or the management of the company involved.

David

 

[MrsMud]

This dispute pertains to a refinance we did 15 months ago. All of a sudden they are telling us we owe $3000, which should have been collected at closing but was not. The problem is we were NEVER told about such a payment, either during the initial application process or at closing. It was supposed to be a "no cost" closing, with all fees added into our monthly mortgage payment.
Anyway, thanks for the info.

 

[mudnuri]

isn't there some sort of "statute of limitations"??? I didnt think you could be billed for something 15 months later....I thought it was 6 months or so.???

Brandy

 

[OhMari]

Did you open a line of Home Equity with your mortgage.

We received a bill from our Home Line Equity and we were suppose to have no closing cost. Our Mortgage broker sent us the check to send to the Home LIne Equity and it was all with GMAC. Ours was only $250.

Go back and look over all your paper work, both sides of the paper. I found ours and had to prove we had no closing costs.

 

[MrsMud]

Thanks for the replies, folks. For some reason I'm not getting email notifications on this post. We sent a formal letter of complaint to the mortgage company, and we're having a friend of the family who works for a real estate attorney look at all of our paperwork.
From what I can tell, it looks as if the mortgage company used money from our escrow account to pay closing costs, thus making our escrow short for the past 15 months. Are they allowed to do that? I really wish I understood it better.

 

[MrsMud]

Our friend is taking it in to work with her, she says something doesn't look right. So I guess there's still a glimmer of hope for us

 

[floridaminnie]

When you summit a loan application, they mortage company is suppose to be law give you a piece of paper that discloses all costs associated with the loan. ( I can't think of the technical term, it's been awhile since I've done a loan).