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Old 07-31-2002, 01:02 PM
flintjnm
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2nd mortgage...big problems!

What is the name of your state? PA

We recently took out a 2nd mortgage to pay off credit cards and do some home improvements. The lender send checks to us that we were to forward to the credit card companies in order to pay off our balances. The problem is, a few of those checks bounced!! My credit cards are still outstanding, we're incurring late fees and finance charges, and I'm not sure what we should do!! The 2nd mortgage company that originated the loan has since sold our account to another mortgage company and they are looking into the matter, but I'm wondering if they haven't breached the contract or if this is something that happens. Please, if anyone has some insight, we'd love to hear it.
Last edited by flintjnm; 07-31-2002 at 01:06 PM.
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Old 07-31-2002, 01:13 PM
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Join Date: May 2000
Location: Catatonic State
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Re: 2nd mortgage...big problems!

Quote:
Originally posted by flintjnm
What is the name of your state? PA

We recently took out a 2nd mortgage to pay off credit cards and do some home improvements. The lender send checks to us that we were to forward to the credit card companies in order to pay off our balances. The problem is, a few of those checks bounced!! My credit cards are still outstanding, we're incurring late fees and finance charges, and I'm not sure what we should do!! The 2nd mortgage company that originated the loan has since sold our account to another mortgage company and they are looking into the matter, but I'm wondering if they haven't breached the contract or if this is something that happens. Please, if anyone has some insight, we'd love to hear it.
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