Home     Law Advice     Insurance Advice     Community    
Go Back   FreeAdvice Legal Forum > REAL ESTATE LAW > Mortgages, Refinancing & Foreclosure

Powered by Attorney Pages


  Find An Attorney In Your Area    
 

Reply
 
LinkBack Thread Tools Rate Thread Display Modes
  #1  
Old 04-25-2005, 10:39 AM
Junior Member
 
Join Date: Apr 2005
Posts: 1

Wrong Mortgage was paid off during transaction. Now what?


What is the name of your state? Pennsylvania...

OK her it goes...

My Mom just sold a home and purchased a new home. Her mortgage broker had her get a swing/bridge loan to cover the new home (for approx 2 months) until the old house sold.

To make a long story short, when the old house sold, somehow someone gave the wrong account number of the loan to pay off. Her brand new mortgage for her new home was paid off. Her old swing loan is still outstanding. All of the check she paid for her new home's mortgage are being returned to her since that mortgage is paid off in reality. Her old swing loan is being late charged and more interest is being applied. We believe my mom gave all fo the correct account numbers (both loans are at the same bank). The buyer's (of the old home) title company is saying it is not their fault. I would think they need to make sure the title is free and clear. They say they have the seller sign an affidavit saying it is clear. They don;t have the time to research account numbers. They blame my Mom's real estate person, he blames the buyer's setlement co, etc...

Now, the new mortgage is being reopened but it sounds like she is getting all kinds of new credit checks done. I have a bad feeling she is going to get a new interest rate too.

Where do we begin??

Thanks so much in advance for any advice!!
Dutch
Reply



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is Off
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On
Forum Jump

All times are GMT -5. The time now is 06:34 AM.



IMPORTANT NOTICE
THE VIEWS EXPRESSED ON THIS PAGE WERE NOT REVIEWED BY THE EDITORIAL STAFF OR ATTORNEYS AT FREEADVICE.COM. Thousands of professionally prepared and reviewed questions and answers in 130 legal categories are to be found at the Question and Answer pages at FreeAdvice.com.

F
reeAdvice Forums are intended to enable consumers to benefit from the experience of other consumers who have faced similar legal issues. FreeAdvice does NOT vouch for or warrant the accuracy, completeness or usefulness of any posting or the qualifications of any person responding. Use of the Forums is subject to our Terms and Conditions which prohibit advertisements, solicitations or other commercial messages, or false, defamatory, abusive, vulgar, or harassing messages, and subject violators to a fee for each improper posting. All postings reflect the views of the author but become the property of FreeAdvice. Information on FreeAdvice or a Forum should not be relied upon and is not a substitute for advice from an attorney licensed in your jurisdiction who you have retained to represent you. To locate an attorney visit AttorneyPages.com. Copyright since 1995 by Advice Company. All Rights Reserved.