suing my mortgage lender

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What is the name of your state?What is the name of your state?What is the name of your state? VA

Shortest version I can offer. I have a standard 30 year mortgage. My stated mortgage amount is $XX per month. I pay 1/2 of that amount every 14 days, which will reduce the term and interest on my loan significantly. There is no language that I can see in my mortgage document that prohibits me from doing this.

My mortgage processor collects my 1/2 payments on the day that they are received but does not post them until the day that my full payment is due, which cheats me out of the reduction that I am trying to accomplish.

Q: Can I file in small claims court to recover the difference in the $ amount that I do not receive, based on the way they apply my payments? I can calculate the reduction in principal that should occur if the payments are applied correctly.

Q: Is my mortgage processor required by law to process my payment within some number of days of receiving it?

Thanks for any advice you can offer.

 

[Dura necessitas]

There is no language that I can see in my mortgage document that prohibits me from doing this.
NY here..You're talking about a Bi-weekly mortgage payment plan which in summary allows you to make an extra payment a year so to speak, to bring down the term/interest, right? Usually, mortgage companies have to be notified that you plan on making payments EVERY TWO weeks. They also set up dates for you to adhere to. I am not sure if you can do this on your own, so check with your mortgage comany, not your processor...