Legal Question in Real Estate Law in Georgia

I asked for an audit of my payment records from my mortgagors and noticed that a payment that I made in February 2008 was never posted. The mortgagors had filed a claim against me for the alleged $500 payment in August 2008 and I had to retain an attorney and have my attorney send their attorney a copy of the cancelled check which had been negotiated by the mortgage. All these years I thought they gave me credit for the payment . I don't think this was an honest oversight. They knew that, in all probability, I would not ensure that it was posted, which is what happened. What are my legal options? I would like to ask for my $500 plus simple interest of 9% APR accrued daily, ( the exorbitant interest rate I have to pay for the loan), for the past seven years. I think the entire amount would be approximately $32,000.00 according to my calculations. Is this possible


Asked on 1/30/15, 8:27 pm

2 Answers from Attorneys
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Of course not especially since you didn't do the obvious step of following up after you sent a copy of the cancelled check, which you should have done (and you did not check your account statements for all this time, which every homeowner should do). You are of course entitled to the $500 being credited. You have not however won the lottery.

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Answered on 1/30/15, 8:37 pm
Scott Riddle Law Office of Scott B. Riddle, LLC

You should not consider that an administrative person at the lender is somehow being vindictive, and your interest and math are way, way off. You don't pay 9% per day for a home loan. Imagine how many millions you would owe using that same formula.

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Answered on 1/31/15, 5:14 am


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