Mortgage paid off?

[mca2156]

What is the name of your state?What is the name of your state? Wisconsin
We received a letter from our mortgage co. congratulating us on paying off our mortgage. Problem is, we haven't. We've contacted the mortgage company a couple of times and they can't tell us why our mortgage has been satisfied or by whom. Today we received a Satisfaction on the mortgage from the local register of deeds. This sounds like a bank error in our favor but I'm afraid it could also be the result of some sort of scam or identity theft. Am I right to be concerned? What should I do at this point?

 

[seniorjudge]

What is the name of your state?What is the name of your state? Wisconsin
We received a letter from our mortgage co. congratulating us on paying off our mortgage. Problem is, we haven't. We've contacted the mortgage company a couple of times and they can't tell us why our mortgage has been satisfied or by whom. Today we received a Satisfaction on the mortgage from the local register of deeds. This sounds like a bank error in our favor but I'm afraid it could also be the result of some sort of scam or identity theft. Am I right to be concerned? What should I do at this point?

Keep all documentation concerning this; keep paying your mortgage.

Keep trying to get through to the quackerheads at the mortgage company.

This error does not mean you don't owe them the money.

 

[mca2156]

mortgage paid off?

Thank you for the response. We've tried to keep making payments, they send the check back because there's no account to apply it to. They've returned our tax escrow as well. We've talked to 4 different people and nobodies figured it our or gotten back to us like they said they would. What's the worst that could happen if we stopped trying?

 

[seniorjudge]

"...What's the worst that could happen if we stopped trying?..."

You could lose your land.

Dealing with those lenders can be exceptionally aggravating. You must keep trying. Call them every day and keep a log. Get the name of the person you talk to. Ask for that person every day.

Ask them when it was paid off and by whom.

They've gotten your account mixed up with someone else's. When that somebody jumps their case to see why THEIR mortgage hasn't been paid off, then this may get straightened out.

Don't give up.

 

[wamuwoes]

I would say - put the $$ aside each month for the mortgage. What are you supposed to do - hire a lawyer to force the mortgage company take your money. No judge would allow a mortgage company to just take someone's land IF they had this set of circumstances documented AND were able and willing to bring mortgage up to date when it does get straightened out.

 

[Fat Tony]

I agree with WAMU on this one, set up some sort of escrow acct. Deposit your mortgage payments into this account just as you would pay the mortgage each month. Send the mortgage company a letter explaining your situation in full, and explaining that you are holding your monthly payments in escrow until this matter is resolved. Be sure to send that CRRR. Once they find the mistake, if they come after you, offer them the balance of the escrow acct, which will be the sum of all your mortgage payments to this point, and remind them of the letter you sent them previously. Do not pay any late fees or any type of penalties. If they try to sue or foreclose, take the letter you sent them, all the information on the escrow acct you set up (including a printout showing when each deposit was made), and explain the situation. Anybody will see it in your favor if you do all this. DO NOT do anything else with this money. If the time comes, and you dont have the money, then you could be stuck. And dont keep trying to talk to these people on the phone, put everything in writing.