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RealEstateAnswer, Lawyer
Category: Real Estate Law
Satisfied Customers: 28331
Experience:  10+ years in handling Leases, Landlord-Tenant, Foreclosures,Mortgages, and Eviction cases
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I need assistance with questions regarding my mortgage

Customer Question

Hello I need assistance with questions regarding my mortgage company and issues I am having with them. Is there someone available to assist with my questions?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  RealEstateAnswer replied 1 year ago.

Hi! I will be the professional that will be helping you today. I look forward to providing you with information to help with your question and concern

Expert:  RealEstateAnswer replied 1 year ago.

Good morning. How can I help?

Customer: replied 1 year ago.
Thanks. I have a mortgage with a company named Ocwen Mortgage my first and second are with them and set up on auto draft for years now. I noticed in August my payment did not draft for my second mtge. I called them and they advised me my account shows a zero balance and paid off. I knew in my mind that this wasnt right because the terms were 360 months and I only had it about 120 months. I asked them to send me a breakout of my account because I was not aware of why it would show this. They said they would send me a satisfaction of mtge letter in the mail, I went online (online statements) and my statement last shown was from 2013 none for the last 3 years which is odd because it was available in June, but my payment history was there that shows me never missing a payment. I never got anything long story short after 2 months of calling back and fourth someone called me yesterday from the company and told me my 2nd mtge was charged off. I asked them how could this be and I checked my credit and sure enough they reported account charged off. They transferred me around and around until finally someone told me to call back tomorrow. How can they charge off an account I never been delinquent on. Wouldnt this be illegal? I also say that in July they settled with the federal govt 30M lawsuit and July happens to be the last time they drafted my account. Any Advice on what I should do would be appreciated
Expert:  RealEstateAnswer replied 1 year ago.

You are welcome and please allow me a moment to respond

Expert:  RealEstateAnswer replied 1 year ago.

As you are aware, A charge off is an accounting term that means the creditor no longer considers the money you owe as a source of profit, but rather, counts it as a loss. A charged-off loan (unlike forgiven debt) is still considered an obligation that you must pay. Based upon what you shared above, this MAY have been sold and transferred to another lender BUT if that was the case, you would have received notice, so you could continue to make your payments to the new lender. If they are not longer taking and accepting payments, you 100% want to get something in writing, to evidence and document this, for your own protection. They are still taking the payments on the first, so it needs to be determined what happened with the second. Even if there was a lawsuit, you would have received notice if this impacted your obligation. What you want to really get is evidence/documentation from them, showing that the mortgage has been satisfied. Until that happens and it can be known that it has been paid, it was likely bought by a 3rd party.

Customer: replied 1 year ago.
they stopped drafting my account 7/1/2016 they charged it off 7/26/16 and I have not sent a payment to anyone since then. When I call they say "You are fine your account was satisfied in full charge off". Well a charge off occurs when I have gone months without paying I asked if it was sold to another company and they said no it was satisfied as a charge off.
Expert:  RealEstateAnswer replied 1 year ago.

Then you need to request this from them, in writing. You also should send a payment and see what they do with it, to evidence they do not keep it, cash it and apply it in some manner and you can show it was returned and you made a good faith effort to pay. You want to protect your own interest and document this, so they do not come back ad try and say you are in default and foreclose.

Customer: replied 1 year ago.
How can they charge an account off I have been paying monthly payments on. What evidence do I need to get, this company has a long history of errors and then coming back and saying the account is owed and when I work hard to keep a 750+ score to now have a charge off it doesnt seem logical. Its as though they are reporting a loss that truly isnt a loss.
Expert:  RealEstateAnswer replied 1 year ago.

Yes I understand and shared just above this, what you want to obtain from this, to protect your interest

Customer: replied 1 year ago.
I will send the payment and see what happens. I didn't think about doing that and I will get as much documentation as I can to have on file.
Expert:  RealEstateAnswer replied 1 year ago.

Excellent! You are welcome. Please let me know if there is anything else, as I would be happy to respond. If not, please remember to rate my help at this time at the top of this page, prior to leaving, so I can receive the proper credit, for our time together. A 5 STAR rating is greatly appreciated Thank you.