🚀 go-pugleaf

document....document....document!

Everything you just said, keep a log of all communications and letters.
Keep in a file and don't worry about it until someone asks for it.

I've worked for a mortgage company and know that often times loans have
been sold before it even closes so this sort of thing happens quite
often.

But, document...document...document!

Mark Haythornthwaite wrote:
> 
> As I am not interested in being sued for anything, I have changed the
> names to protect the stupid.
> 
> I got a loan through a broker from Lender X. In May I was told that my
> loan was sold, and I would now be dealing with Company Y. So for my June
> 1st payment I called Company Y and found out that although the loan was
> not set up yet, I could send in my payment with my Social Security
> number on it, and once the loan was officially in their system the
> payment would be credited to my account.
> 
> Two weeks later I got another letter from lender X, saying that
> effective June 1st (letter dated June 16th) my loan was being
> transferred to Company Z. I immediately called the lender and said "Hey,
> my last payment went to Company Y". They said not to worry, Company Y
> will send the payments received either back to them or to Company Z, the
> correct loan servicer. It had been a big screwup that was not their
> fault, but of the investment firm that bought the note. Company Z said
> the same thing, and when I asked about my July 1st payment, I was told
> "Don't send it in, wait until we notify you with the loan account number
> and remittance address."
> 
> Today I received a check from Company Y refunding me for my June 1st
> payment. According to the Real Estate Settlement Proceedures Act (12
> U.S.C. 2605) I am not late on a payment if I send a payment to the old
> servicer. Yeah, great. But I sent it to the "new" one, who was actually
> the "wrong" one. Am I screwed?
> 
> If I get forclosed on I will sue X,Y and Z, probably the Mortgage Broker
> and the real estate agent. But what the heck can I do now to get this
> straightened out?
> 
> Anyone able to help?
> 
> Mark