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2nd mortgage...big problems!

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flintjnm

Guest
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:


HomeGuru

Senior Member
flintjnm said:
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.
**A: contact your attorney generals' office for referrals.
 

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