What is the name of your state? OREGON
We sold our home at the beginning of October 2005. We closed on 10/7 to be exact. Our mortgage company had not applied the payment that we had made so our payoff that the title company sent them was more than we actually owed, to the tune of almost 1K.
We were told that the mortgage company has 30 days to get us the excess money. On 11/4 supposedly they mailed a check but we haven't seen it. On 11/14 they mailed a statement of our escrow account, which we got today......4 days later. We called the mortgage company and they said that if we want them to put a stop payment on the check it will be at least another 2 weeks before they'd even CUT the new check then they'd mail it. We feel like if they put a stop payment on it it shouldn't take more than a couple of days.
With that 2 week timeline we'll be well into December and over double the time that they had to get it to us. Can they do that? Are there any reprecutions for them doing this? Any input would be appreciated. We obviously aren't impressed with this mortgage company and have had nothing but problems with them from day one so it was a huge relief to sell that house!
We sold our home at the beginning of October 2005. We closed on 10/7 to be exact. Our mortgage company had not applied the payment that we had made so our payoff that the title company sent them was more than we actually owed, to the tune of almost 1K.
We were told that the mortgage company has 30 days to get us the excess money. On 11/4 supposedly they mailed a check but we haven't seen it. On 11/14 they mailed a statement of our escrow account, which we got today......4 days later. We called the mortgage company and they said that if we want them to put a stop payment on the check it will be at least another 2 weeks before they'd even CUT the new check then they'd mail it. We feel like if they put a stop payment on it it shouldn't take more than a couple of days.
With that 2 week timeline we'll be well into December and over double the time that they had to get it to us. Can they do that? Are there any reprecutions for them doing this? Any input would be appreciated. We obviously aren't impressed with this mortgage company and have had nothing but problems with them from day one so it was a huge relief to sell that house!