No. of Recommendations: 0
Hi all, I have a question. It may be better suited for another board, so please direct me there if there is one. I was talking to a friend today and she said that their bank bounced the same check twice. They checked into it and found out what happened. Her husband sent a check to their mortgage company, who then deposited it on the 2nd of the month. For some reason the bank or the mortgage company sent it through a week or so later, and then again at the end of the month. The last two times it bounced because there wasn't enough in the account. The bank has admitted to the error, and has fixed their account. The problem however, is that the mortgage company is claiming that they still have not received the money. The bank faxed them a copy showing that the check was deposited in their account, but they are not accepting that as proof. And to make matters worse, they say that they will not accept any further payments until they are paid for last month's mortgage. I told her that this doesn't sound right, or even legal. They don't know what more they could do to prove to these people that they got their money. I told her that they should tell the mortgage company that they are getting a lawyer, and see if they change their tune. Anyone had any experience like this before?

Doug
Print the post Back To Top
No. of Recommendations: 0
If I understand your question correctly, the check was paid once (on the 2nd) and then was re-presented for payment two more times (causing it to bounce the 2nd and 3rd times). If so, your friend needs to present their mortgage company with three things:

1) a photocopy (front AND back) of the cancelled check
2) a copy of their bank statement showing the check paying
3) a letter from their bank admitting their error

Keep track of the dates/times/names of every phone call they make. If the mortgage company still doesn't resolve the situation, ask the bank's manager to make a phone call to them. Ask to talk to a mortgage company supervisor.

I would hope that the mortgage company would rather resolve this than refuse future payments.

Gary
Print the post Back To Top
No. of Recommendations: 0
How did the mortgage company get the check back to re-present it? or am I missing something?
I thought when a check was presented for payment the check went into the system ultimately returning to the writer. So....how can you do this?
.b
Print the post Back To Top
No. of Recommendations: 0
I would hope that the mortgage company would rather resolve this than refuse future payments.

Several years ago I had a knotty problem with my former mortgage company, and the only way I got it resolved was to file a complaint with the Office of Thrift Supervision, which oversees S&Ls. (Of course, you mortgage has to be with an S&L for this to work.) The OTS must throw some weight around, because I got a very apologetic letter shortly afterwards from a Vice President of the offending institution, complete with her direct phone number, and the matter was fixed. I still refinanced with another institution when the interest rates went down, though.

AB
Print the post Back To Top
Advertisement