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California Lawyer
California Lawyer, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 1041
Experience:  Licensed to practice in California
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My bank somehow messed up my automatic mortgage payments and

Customer Question

My bank somehow messed up my automatic mortgage payments and they weren't paid for 1 year before I was contacted finally by an attorney of the executrix of the woman who sold me the property, whom I had met once and lost or misplaced her info. and I couldn't remember her name. The payments were funneled back into my account and I spent them. (wrongfully) but I assumed at the time that someone would contact me about the payment not being received.It took them a year, It was an owner contract and payment was setup as a bank transfer from my account to hers. My bank claims that the "auto" payment went
electronically from my account to her trust account and for ten years it has gone without a miss and last July it went in but last August it was returned. and the first of the next 4 months it was sent and returned. they said there was no sense in continuing, as she must have moved or closed the account and I would just have to wait until someone from them to contact me and until then I would have $755.00 more per month. I went
to the B of A that her account was at and the manager there said they didn't know who or what account I was asking about. I didn't know then that that is bank policy. After
the attorney talked to her she said the account never changed and was open and valid, to receive payments and they didn't believe me or care what happened. They wanted
10,000 for the missing 12 payments plus late charges and attorney fees. That's reasonable, but I don't have it and couldn't borrow it as I have not got 2 years under my belt from a chapter 13 bankruptcy so they are willing to put it onto the end of my contract but they will add 1% of the balance of the principle of about 23,000 more and not allow my heirs to assume the payments or allow me to sell or transfer it, when I die. I am 73 years old next month. I went across the street to a B of A and deposited Augusts mortgage payment into this "defunct account" and that is when I learned that they couldn't tell me about anyone's account or info, but I could make a deposit into any account that I had the numbers for and I did! My Question is, do I have any recourse to
my bank that messed it up somehow or gave me bad advise??????????(but I should have known better) it was just that my savings had dwindled away because there never seemed to be enough money during the month and I got greedy when there was.
Submitted: 2 years ago.
Category: Consumer Protection Law
Customer: replied 2 years ago.
I don't have a few days..
Customer: replied 2 years ago.
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Expert:  California Lawyer replied 2 years ago.
I will be happy to help you and to talk with you on the phone (assuming I am available). I probably will not have good news or an answer you want to hear, but I will try.
Customer: replied 2 years ago.
Have you read my statement? What more do you want after you read my statement?
Expert:  California Lawyer replied 2 years ago.
I will respond shortly. I need to be in court today, but I just wanted you to know I received your response.
Expert:  California Lawyer replied 2 years ago.
Regardless of what the bank told you, you knew that you had the obligation to make the payments. The bank's suggestion that in the meantime you would simply have more money is ludicrous.
In the worst case, you should have laid those payments up in a savings account so that when the problem resolved itself, you would have the money readily available. Spending the money was a mistake (which you admit).
The short answer is that you likely have no recourse against bank of America.
I hope this helps.
Customer: replied 2 years ago.
Expert:  California Lawyer replied 2 years ago.
I understand, but a court would likely find that you could not reasonably rely on the advice/suggestion of a bank to not pay bills you already knew you owed.
Secondly, the only reason you have any problem at all is because you chose to spend the payments rather lay them up for when this situation resolved itself.
The short answer is that the is likely no liability for anyone that is not superseded by your own. I realize that's not what you want to hear, but I don't think you have a cause of action.
I hope this helps.