Paid Mortgage until 1-1-2010 refinancing now Citimortgage will not give back money for months not yet occurred. How can I get my money back?

Paid Mortgage in advance until 1-1-2010 refinancing loan and want money for June 2009- Dec 2009 back total amount $3984.75. On Pay-out document Citi-Mortgage is only refunding interest for the above months. When adding totals, they do not match what is due back to us.

Asked on May 28, 2009 under Real Estate Law, California

Answers:

J.V., Member, New Jersey Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

what you need to do is look to see if citi-mortgage applied the additional amounts outside of the interest to principal. If you did not specify not to they would usually do just that. If that is the case that means they will agree to pay the interest based on the fact that it is yours legally however they have applied the remainder to principal.

If that happened they will not now go and refund amounts already considered principal, rather the loan amount is lower than it was. If you feel as if this is not the case you may want to call a local attorney who can review the paperwork and see if in fact citi-mortgage owes you money and is refusing at which time they can discuss possible avenues to pursue


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