Who is responsible when a second mortgage is paid off to the wrong account?

Get Legal Help Today

 Secured with SHA-256 Encryption

Who is responsible when a second mortgage is paid off to the wrong account?

My home was refinanced to consolidate a second mortgage. When the refinancing company requested the payoff amount the bank send them information on my exhusband’s second mortgage, not my second mortgage. Subsequently during closing the bank closed the wrong account. Who is responsible for error? Is the bank? The title company” Or the company that refinanced the home? Do I need an attorney? The bank has denied my claim to reverse the funds from the wrong account to the correct one.

Asked on April 13, 2012 under Real Estate Law, Texas

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

What I think is most important is that YOU ARE NOT responsible for the error and frankly, I would just sue everyone about it and let the court and their attorneys straighten it out.  Yes, I would indeed get an attorney and start the process of litigation.  Some one messed up.  Pit them all against each other and sit back.  Good luck.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption