Who is responsible when a second mortgage is paid off to the wrong account?
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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 12 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.
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