Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
So I refinanced my mortgage with my previous existing mortgage company. Through discussion and letters (which I threw out) I was informed by my previous mortgage company that Chase Bank would be taking over my mortgage after the first payment of my new refinanced mortgage. I receive a letter from Chase (which i threw out) that they will be taking over my mortgage, Chase bank has all my information set up online, they send me invoices and I make a few months worth of payments to Chase Bank for my mortgage and everything is perfect.
My previous mortgage company calls me that I'm late on payments, and I say no I don't it was transferred. Well they are pretty disorganized and still insistent that my mortgage is with them and I've been battling with them and they are to hard headed and its difficult to talk to anyone there that is a bit more professional then someone working at a Walmart. They are claiming that I never received a letter from them closing out my mortgage, and when I call to discuss or to escalate the situation to a supervisor I get hung up on.
So I run my credit report and boom, I have 2 mortgages one with this trash company and one with Chase Bank. So with having my 2 mortgages (which I would never be able to afford on paper) its showing on my credit as 2 home loans, showing I have missed mortgage payments and a couple of credit cards decreased my limits with them as an indirect result of this pulling down my credit score even more.
Anyway, I'm sure this mortgage servicer will figure it out that they messed up big with my mortgage. Should I hire an attorney for damaging my credit like this? Would it be possible to receive some type of compensation?
The first thing you should do is stop throwing away important documents. Second, deal with Chase and not your initial lender
Ask Chase to provide you with documentation that they acquired your mortgage, when, copy of original letter, etc. When you get it, provide copies to the initial lender and instruct them to remove their mortgage from your credit report and inform the credit agency of their error. If they don't do that, then you need to contact the agencies and follow their processes for correcting erroneous information.
So I refinanced my mortgage with my previous existing mortgage company. Through discussion and letters (which I threw out) I was informed by my previous mortgage company that Chase Bank would be taking over my mortgage after the first payment of my new refinanced mortgage. I receive a letter from Chase (which i threw out) that they will be taking over my mortgage, Chase bank has all my information set up online, they send me invoices and I make a few months worth of payments to Chase Bank for my mortgage and everything is perfect.
My previous mortgage company calls me that I'm late on payments, and I say no I don't it was transferred. Well they are pretty disorganized and still insistent that my mortgage is with them and I've been battling with them and they are to hard headed and its difficult to talk to anyone there that is a bit more professional then someone working at a Walmart. They are claiming that I never received a letter from them closing out my mortgage, and when I call to discuss or to escalate the situation to a supervisor I get hung up on.
So I run my credit report and boom, I have 2 mortgages one with this trash company and one with Chase Bank. So with having my 2 mortgages (which I would never be able to afford on paper) its showing on my credit as 2 home loans, showing I have missed mortgage payments and a couple of credit cards decreased my limits with them as an indirect result of this pulling down my credit score even more.
Anyway, I'm sure this mortgage servicer will figure it out that they messed up big with my mortgage. Should I hire an attorney for damaging my credit like this? Would it be possible to receive some type of compensation?
Someone who ignores/tosses important correspondence accuses a lender of disorganization and being difficult?
Last edited by Parnassia; 06-04-2021 at 02:49 PM..
The first thing you should do is stop throwing away important documents. Second, deal with Chase and not your initial lender
Ask Chase to provide you with documentation that they acquired your mortgage, when, copy of original letter, etc. When you get it, provide copies to the initial lender and instruct them to remove their mortgage from your credit report and inform the credit agency of their error. If they don't do that, then you need to contact the agencies and follow their processes for correcting erroneous information.
This. Seriously. I got a letter 6 months ago that my mortgage servicer was changing. I still have it.
Someone who ignores/tosses important correspondence accuses a lender of disorganization and being difficult?
The lendee doesn't have an obligation to the lendor to save their notifications. The lendor does have an obligation to the lendee to report to credit reporting agencies correctly.
OP should have probably kept that notice, but his or her failure to do so doesn't absolve the lender of doing their duties; the harm isn't symmetrical here.
I would definitely keep at it until you get the duplicate mortgage removed from your credit and any late/derogatory entries removed. I think jiminnm had good advice, get as much as you can from the Chase side to prove the mortgage was transferred. You'll get more help from them than the previous servicer who seems incompetent and has no interest in helping you prove they screwed up.
It might not be a bad idea to talk to a lawyer, but I'd keep the focus first on cleaning up the credit reporting rather than monetary compensation. A letter from a lawyer to this mortgage servicer telling them they're violating FCRA and threatening action might light a fire under them to fix the issue. As far as trying to get monetary compensation I think that'd be a stretch, but it wouldn't hurt to ask the lawyer. This is my uneducated opinion and not legal advice but I suspect you'd have to prove exactly how this situation has damaged you financially, and maybe even prove they did so intentionally or through negligence.
As the first person who responded to this thread said, deal with Chase on this issue. Ask them for a copy of the letter you discarded and work from there.
And yes, stop throwing away important documents. Anything related to your mortgage qualifies.
So it turns out I never threw out any documents. The company I refinanced with (which was my existing mortgage company) verbally informed me that the mortgage would be transferred on X date to Chase after I refinanced with them as it was a Chase product. So when Chase set up my new loan with evidence of the purchase of the mortgage on their end, everything seemed right. I had no knowledge that the other mortgage company did not close out the loan on their end. I never had any previous knowledge that I needed to receive a letter that my mortgage was closed out from my previous mortgage company. Still working through the resolution of the issue on their end, with no answer on what caused their screw up but have logged about 70 hours on the phone to fix this issue which is still in process. My credit score still has taken a 100+ point beating from being reported as late on a non-existent mortgage. No apologies from them on their side, just threats that if they didn't screw up and if the issue was on Chase they won't work with me to fix credit scores etc.
What's even now more worrisome is that I received another letter from another bank that they purchased my loan from Chase. How this will add into any complication, I don't know but nobody should be going through this.
Last edited by DannyHobkins; 06-17-2021 at 12:58 PM..
So it turns out I never threw out any documents. The company I refinanced with (which was my existing mortgage company) verbally informed me that the mortgage would be transferred on X date to Chase after I refinanced with them as it was a Chase product. So when Chase set up my new loan with evidence of the purchase of the mortgage on their end, everything seemed right. I had no knowledge that the other mortgage company did not close out the loan on their end. I never had any previous knowledge that I needed to receive a letter that my mortgage was closed out from my previous mortgage company. Still working through the resolution of the issue on their end, with no answer on what caused their screw up but have logged about 70 hours on the phone to fix this issue which is still in process. My credit score still has taken a 100+ point beating from being reported as late on a non-existent mortgage. No apologies from them on their side, just threats that if they didn't screw up and if the issue was on Chase they won't work with me to fix credit scores etc.
What's even now more worrisome is that I received another letter from another bank that they purchased my loan from Chase. How this will add into any complication, I don't know but nobody should be going through this.
Danny, here's the way it works... at least in some places, perhaps most or all places. When a person borrows money against their home/property, there is a record of that debt recorded at the court house in the County Clerk's office. When that debt is paid off, there is a "Release" filed in the same office that, in effect, "releases" their claim against your property. If you take out a new loan to pay off an old loan, then there should be a "release" recorded to release the property from the old loan, and then there will be a new lien filed on your property to reflect the new loan.
Further, if one bank or mortgage holder sells the promissory note to another bank, there is a record made of that transfer of ownership of the note/lien. It is the responsibility of the bank (note holder) who gets paid in full to see that the "release" is recorded as evidence of the loan being paid.
These records are kept permanently at the court house in the County Clerk's office. They are filed under the name of the person who owns the property and takes out the loan. With some assistance from someone at the County Clerks office, you should be able to go back and follow the trail of when you borrowed the money, when an old loan was paid off (released), and when a new loan was started. If some bank or institution did not record the "release" when they got paid in full (or within about 60 days), then they are at fault.
I've spent many hours at court houses going through these Note and Lien books and Deed books doing research for a variety of reasons. Some places probably have this all on computers now, but may have the books as backup. Anyway, with a bit of time and research at the court house County Clerk's office, you may be able to find out who dropped the ball and failed to record the required documentation. This information may then enable you to get your credit record straightened out. Good luck to you.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
