Posted on: 10th Mar, 2008 07:18 pm
We purchased property in Baja Ca. and the lenders headquarters is in Colorado. They gave us payment coupons but will not give us a monthly statement as to interest paid, principle paid. Are they required to send this to us? My husband feels that it is unprofessional and would like to receive a monthly statement of the accounting of the monthly payment that he sent. If there is any law on this where can I find it in writing? Thank you for your assistance with this.
No they are not required to send monthly statements. Many lenders will let you view your payment history online. Go to their website and and set up and login and password to view your account history including payments made.
I think such a statement is offered by some lenders in Colorado as well as in other states.
Hi smoore555, welcome to the forum,
Lisa is correct. Although the statements are nice, the lender is not required to provide on to you on a monthly bases. As she mentioned, online account access is a great way to get that information. You should contact your lender to set-up an online account if you are comfortable obtaining the information via internet.
Please let us know if you have any other questions.
Lisa is correct. Although the statements are nice, the lender is not required to provide on to you on a monthly bases. As she mentioned, online account access is a great way to get that information. You should contact your lender to set-up an online account if you are comfortable obtaining the information via internet.
Please let us know if you have any other questions.
