How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask J. Warren Your Own Question
J. Warren
J. Warren, Lawyer
Category: Real Estate Law
Satisfied Customers: 2249
Experience:  Experience in residential real estate and commercial leases.
Type Your Real Estate Law Question Here...
J. Warren is online now
A new question is answered every 9 seconds

I have a mortgage in Tennessee and have made all payments.

Customer Question

I have a mortgage in Tennessee and have made all payments. Apparently, according to the mortgage servicer, most or all of my payments have been late by a few days since January 2014. I am verifying whether this is accurate. The mortgage servicer had outside counsel send me a demand letter for over $5,000 (all consisting of these late fees for each month). I paid the amount today, but also sent a letter protesting and stating that while I disagree with the calculations and amount, we will conclude the research on our part and anticipate the mortgage servicer will correct any errors we found in their own calculations included with their demand letter.
At no time since 2014 have we received any notification, statement or phone calls regarding paying late and being assessed late fees. NONE.
It seems like piling on to me. Does this sound legal?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  J. Warren replied 1 year ago.

Hello and welcome! My name is ***** ***** I will be helping you today! It will take me just a few minutes to type a response to your question. Thanks for your patience!

Expert:  J. Warren replied 1 year ago.

Hello and welcome to JustAnswer. My name is ***** ***** I am an attorney who will try my very best to help with your situation or get you to someone who can. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.

I am sorry you are dealing with this situation and certainly understand your frustration with the lender. Typically in the loan documents there is a waiver of notice regarding default for late payments. The documents also contain the late fee provisions. You will want to read over your loan documents to see if there is waiver of notice and what the late penalty for payment is as stated per the agreement/promissory note.

In the meantime, you were correct in reserving your payment to them regarding wanting an accounting. If in deed you have paid on time then you are entitled to return of the fees.

Another thing you can do is file a consumer complaint against the lender with the Consumer Financial Protection Bureau and your State's Attorney General regarding the lack of notice and the length in time they allowed this to go (questioning the reasonableness). Even if technically legal because of the loan documents, the CFPB and AG look out for consumers and may very well put a stop to such action in the future and/or fine the lender based on a this trade practice. Here is a link tot he CFPB:

All my best and encouragement. Thank you for allowing me to help you with your questions. I have done my best to provide information which truthfully addresses your question. Please note: If I tell you simply what you wish to hear, this would be unfair to you. I need to be honest with you and sometimes this means providing information that is not optimal. Negative ratings are reserved for experts who are rude or for erroneous information. Please rate me on the quality of my information; do not punish me for my honesty. Kindly rate my answer as one of TOP THREE FACES/STARS and then SUBMIT, as this is how experts get credit for our time.

Expert:  J. Warren replied 1 year ago.

Hello again. This is a courtesy check in to see if you needed anything else in regards ***** ***** question because you never responded or rated positively. Pressing a positive rating will not cost any additional money - it is simply the trigger used by Just Answer to pay me for my time (pressing the middle star or the fourth or fifth star on the right are all positive rating buttons). I am simply touching base. Let me know. Thanks!

Customer: replied 1 year ago.
I don't think you added anything to my understanding, and by the way, in TN banking institutions are regulated by another department and the complaint should go there instead of the Sec of State. I was planning to just accept that I just spent $45 and got no value. However, since you have asked, I'll ask for a refund.