Foreclosure in 33140>Question Details

Mrsmustin, Home Buyer in 33140

I have made an agreement with our loan company and we are paying as promised but they are not sending me statements showing we have paid. I know

Asked by Mrsmustin, 33140 Mon Dec 28, 2009

they received the payment and I have my receipt from the bank of the wire payment. Should I be concerned?

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Answers

6
Yes, you should be.
First of all, do you have this agreement in writing?
You got to make sure that you receive some kind of acknowledgment of your payments.
You can also negotiate how this is reported to the credit agencies - paid as agreed should be fair.
In the mean time, keep all of the proofs of your payments and communications with this bank.
Keep a log of dates, time, representative's names re. your communications with the bank.

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
IrinaKaran@gmail.com
0 votes Thank Flag Link Mon Apr 30, 2012
I am assuming that you have made a payment agreement after you went into foreclosure. If this is the case the bank typically never sends a statement. You should have proof that you sent it and that they received it and it does not hurt to call to make sure it was received. But it is always smart to check and confirm that it has been applied to the loan, either on the internet or by a phone call. If not applied to loan call!



Keith Manson
First Weber Group
Certifed Distressed Property Expert
Metro Milwaukee
0 votes Thank Flag Link Mon Dec 28, 2009
Mrs Musting up to date days banks are very busy with differents transactions in process, I just recommend to contact your bank and ask what day they received payment. Call your Bank with your loan number and last digit of your social security and find information that help in your worries. Don't assume, just call and clarify information as soon as possible
0 votes Thank Flag Link Mon Dec 28, 2009
Hi Mrsmustin,

I have been reading lately about how banks outsource their mortgage loan servicing. I believe Wells Fargo has their own loan servicing company, but many others do not. Federal regulations allow these companies to provide you with only 1 statement per calendar year, which they choose often due to internal cost cutting. The article I attached below will offer some more insight on this and the HAMP (Home Affordable Modification Program) legislation, and may lead you to more information on your own loan servicer. Best of luck to you!
0 votes Thank Flag Link Mon Dec 28, 2009
Hi there,

Is the loan company the one you were behind on or did someone call or contact you with other payment information? If it was the original bank, getting documents that you are paying should be very easy, I would call them immediately. There are scammers out there who are contacting people who are behind and sounding very official and getting people to pay them instead and they have run away with payments. Be very careful that you only pay who you actually owe and you do have receipt of payment.

Good luck. Janie
0 votes Thank Flag Link Mon Dec 28, 2009
Was part of your agreement that you would receive a receipt once payment was tendered--if so give them a call--in the meantime very important to keep your receipts handy just in case--but for peace of mind why not just give them a call and hear what they have to say anyway.

Anna
0 votes Thank Flag Link Mon Dec 28, 2009
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