Please help,bank is crooked?

What is the name of your state? ARIZONA

I have a property in AZ, that in 2003, I missed 4 payments due to job loss. I was living in another state at the time, and after finding employment, I phoned the Title company (who takes my payments and then sends them to "the Bank") and received the amount I owed (so I thought) and mailed them the payments. Apparently, one payment was still missing, and the bank had started forclosure procedures (?) and had an apprasial done even on the property. So now, after over a year, I receive my last two payments back from the title company as the bank "wont accept" them due to the amount I owe...which is upwards of 3K apparently, due to the late charges and fees associated with this appraisal etc. I never received ANY notice that I was behind a month, nor any notice of pending forclosure, until now (a year later!) And if I send my three payemnts in now (the missing payment and the 2 they sent back) the Title compnay insists that all the late charges etc will be deducted first, then the rest sent to the bank. All this seems very unscrupulous (sp) to me, does anyone know if the bank or title company has a LEGAL obligation to send a person a notice, such as certified mail?? Is there any suggestions on how I can avoid these "late" charges when I was never informed I was late? The Title company and the Bank obviously have a poor relationship, neither one seems to know what the other is doing/saying. Thank you in advance for any help, the sooner the better as I have to call again on monday...THANK YOU!!!!

[mortgageguy]

Minnesota.

Why are you paying a title company and not the bank directly? Sounds like you should check the title company out.

[MortgageGuru]

Are you paying the title company through a bi-weekly schedule?

Its a very "confusing" property...first, its pre-1976 (manufactured) so I cant find anyone else to finance it (Any ideas there guys?) And I pay once a month to the title company, originally it was an owner carry (and I paid thru the title company) but the previous owner cashed out on her life insurance policy and sold the note to ANOTHER company, who in turn uses this "bank"...

Any more input would be fabulous...

[HomeGuru]

Originally Posted by enjay1

Its a very "confusing" property...first, its pre-1976 (manufactured) so I cant find anyone else to finance it (Any ideas there guys?) And I pay once a month to the title company, originally it was an owner carry (and I paid thru the title company) but the previous owner cashed out on her life insurance policy and sold the note to ANOTHER company, who in turn uses this "bank"...

Any more input would be fabulous...

**A: you are paying the title company because they are acting as the escrow collection account agency.

Any ideas on the first request on how or who is responsible for these late charges if I was never told?? I really dont care who I pay really, A title company or the bank, I just need to figure out the situation at hand (see first question) Thanks again for any info..

[MortgageGuru]

You are the one that is responsible. Dig up all the cancelled checks and send copies of them to the mortgage company. If you are escrowed for taxes and insurance with the title company then see if they can move the account to the bank. If not then start paying the bank each month.

[Roselady]

I am assuming that whom she is paying is a Mortgage Servicer.

If you cannot afford all these fee's that they have given you- You can sign a forbearance agreement. Be very careful when doing this- as what ever figures that are listed on this agreement- you are signing an agreemnt that you are accepting them. BUT- a forbearance agreement will temporarily halt the foreclosure procedings.

Gather your information on payments-
Make a list (on excell) listing them all out & the check numbers. Dates cleared is good information too.
Send a RESPA letter to the servicer (get a sample copy off of the HUD website) State your issues & ask for an account summary, payment history,
Send a copy of your spred sheet & copies of all your checks.

Law states that they have to respond to your RESPA letter within 20 business days. & that they have to resolve your problem within 60 business days.

This way you can see what these charges are actually for.

There are many mortgage servicers who are practicing fraud. Assigning late fees when not late, force placed insurance, fees for all kinds of bogus things that have no explanation. Fees listed as "other" or "misc".

Do a search on Mortgage Servicing fraud.

Can you all say fairbanks???

I'd be interested in knowing which servicer she has.

Come on all you lawyers--- LEARN about what is going on. Or are you a part of the bigger scheme?