Legal Question in Real Estate Law in Illinois
final mortgage payment
Upon making my final mortgate payment and being notified that our loan had matured, I was informed that I still have a balance of $2300. Do I have the right to ask for a complete printout of all of my loan payments? I understand from the loan company that I can ask, but will have to pay $10 for each year requested except for the last two years which are free. The cost would be $280.
2 Answers from Attorneys
Re: final mortgage payment
I am assuming you are asking whether the bank has the right to charge you for an accounting. You need to review your initial loan note and mortgage to determine whether the charge is appropriate.
Re: final mortgage payment
If you have timely made all your mortgage payments, it would appear to me that you could expect the mortgage company to be reasonable, and explain why there still would be a balance on your account. Failing this, I would contact that Consumer Fraud Dept. of the Illinois Attorney General's office, and file a complaint (free-address and tel. no. of AG's office in your phone book) Good Luck!
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