Legal Question in Real Estate Law in New Jersey
Mortgage Payments Under RESPA
I have a dispute with my Mortgage Servicing Company, they purchased forced insurance. After I proved to them that I had my own insurance they reinbursed my account. I continued making my original amount of mortgage payments the same amount that I paid before the forced Insurance was purchased. All the payments I made were deposited in the escrow and suspense accounts. Nothing was applied to interest or princapal.
My question is dose a lender have the right to report to the credit beareau non payment to escrow?
What is the order in which a lender must apply payments undr RESPA do they have the right to put the payments in Escrow or must it first be applied for interest?
1 Answer from Attorneys
Re: Mortgage Payments Under RESPA
your problem cna not be solved over this computer bulletin board. please consult an attorney who is reasonably near you, who handles real estate and who also litigates (handles lawsuits). Fighting with a mortgage company will be quite interesting.
To answer only the questions you asked:
the lender must report accurate information to the credit bureau.
payments must be applied as stated in the promissory note and mortgage.
get a lawyer to look at this. if you are right and they are wrong, they should fix it. if not, a letter from a lawyer demanding they fix it, with proof that they are wrong. if still not fixed, sue them.
If you would like, give me a call; I am in Hackensack (northern New Jersey). I will be happy to discuss
this with you; a brief telephone consultation will be free.
My contact information can be obtained from the links below, just click on the Attorney Profile link. Let my secretary know you found me through LawGuru.
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