How to get a bank to correct mortgage payments from solely principle payments to regular monthly principal and interest payments?

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How to get a bank to correct mortgage payments from solely principle payments to regular monthly principal and interest payments?

A year ago I was undergoing treatment for cancer. We have a 2nd through a bank. I had to make partial payments but always met our monthly obligation. They did not apply the payments to the monthly loan amount, rather only to the principle. At present they are not adjusting their mistake and are attempting to manipulate us in stating it was our intention to have it applied to the principle. We have stated our situation (e.g. cancer/disability, etc.) but they continue to not address their mistake. Who do I contact or should we just get a lawyer/state’s attorney/attorney general for a resolution?

Asked on January 24, 2012 under Real Estate Law, California

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If you are having issues with the lender concerning payments that you made on your second where there was not the proper application of your monthly payments as you intended where you are trying to get the issue resolve on your own with a representative of the lender, but are not making any progress on the problem, you should to the following:

1. consult with a real estate attorney about the problem;

2. consult with your state's department of real estate;

3. consult with your state's department of corporations;

4. consult with your state's secretary of state's office.

The entities listed above typically have some supervising control over institutionalized lenders in their state.


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