Can a mortgage company legallyrefuse to provide monthly statmentsand on-line services if one of the co-borrowers filed for bankruptcy?

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Can a mortgage company legallyrefuse to provide monthly statmentsand on-line services if one of the co-borrowers filed for bankruptcy?

My fiancee is on the loan and lost her job. So 3 years ago she filed bankruptcy for credit card debt only, not our mortgage. Our original lender assigned our mortgage to another lender and we made our payments on-line for 2 years and 7 months. However, this month it suspended all on-line services and I cannot receive a monthy mortgage statement. Does our lender have the legal right to deny me (the primary borrower) the right to receive the above information?

Asked on August 11, 2011 Michigan

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Your question does not state the reasons why your mortgage company suspended its on line services where you are unable to obtain an on-line statement. Was the suspension to all customers or just you? If the suspension was just to you, why?

Most businesses prefer on-line payments and review of documents in such a manner since the costs to so so are much less than actual mailing and processing through the U.S. mail and the transaction is completed much quicker.

Your mortgage company is required to provide you a monthly statement as to what is owed on the mortgage and how much has been paid upon it for the current year as to principal and interest. Most people who are servicing the debt load of their homes receive a monthly statement with a bill for payment.

I suspect the on-line service suspension by the lender that holds the paper on your home is more of an internal issue with it and not the result of your fiancee losing her job or having a prior bankruptcy discharge.

 


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