Posted on: 10th Jan, 2011 05:17 pm
I lost my job in the middle of having my house refinanced and my refinace was cancelled by the new company. The caveat is that the loan amount has been paid out to the old mortgage company...
So I'm not sure where I owe money because I called the new loan company and they said all the agent said was: 'The loan was cancelled'
What is the state of the mortgage?
So I'm not sure where I owe money because I called the new loan company and they said all the agent said was: 'The loan was cancelled'
What is the state of the mortgage?
Hi usdesikid!
Welcome to forums!
As the new company canceled your loan, you owe the debt to your previous mortgage company. You'll have to pay off the mortgage payments to them.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As the new company canceled your loan, you owe the debt to your previous mortgage company. You'll have to pay off the mortgage payments to them.
Feel free to ask if you've further queries.
Sussane
Sussane,
Thanks for getting back to me.
I have already contacted the old mortgage company and they said the have already received the payoff from the new mortgage company. So if I were to send them a payment, it would be returned to me.
Thanks for getting back to me.
I have already contacted the old mortgage company and they said the have already received the payoff from the new mortgage company. So if I were to send them a payment, it would be returned to me.
If you were in the process of refinancing and you closed? Then you would pay the new mortgage company. It sounded like you closed, there would be no other way for them to get their hands on money and tell you the loan was paid off unless you signed closing documents.. If you did not close, and it was canceled by the lender, then the transaction has to be reversed. It sounds a little fishy..
A notary representative of mortgage company B (with whom I was having refinancing done) came over to my house to sign paperwork. Afterwhich, I think the 'funds were released' to the mortgage company A (with whom I had my initial loan).
I reconfirmed w/ both mortgage companies today:
Mortgage Company A:
They said that the payoff amount had been received and that I no longer have owe them anything.
Mortgage Company B:
They said that no such loan number (which was on the paperwork) exists with their company since the loan was canceled. The agent explicitly mentioned that no payment has been disbursed.
Should I be calling the notary to determine what is going on? Should I be hiring a lawyer?
I'm very concerned since at this time, I should be making a payment to someone. I don't want to appear complacent.
Again, thanks for any advice...
I reconfirmed w/ both mortgage companies today:
Mortgage Company A:
They said that the payoff amount had been received and that I no longer have owe them anything.
Mortgage Company B:
They said that no such loan number (which was on the paperwork) exists with their company since the loan was canceled. The agent explicitly mentioned that no payment has been disbursed.
Should I be calling the notary to determine what is going on? Should I be hiring a lawyer?
I'm very concerned since at this time, I should be making a payment to someone. I don't want to appear complacent.
Again, thanks for any advice...
Hi usdesikid!
Welcome to forums!
You can contact the notary in order to check out what is going on. If he is unable to give a satisfactory reply, then you should contact a lawyer and take his opinion in this matter.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You can contact the notary in order to check out what is going on. If he is unable to give a satisfactory reply, then you should contact a lawyer and take his opinion in this matter.
Feel free to ask if you've further queries.
Sussane