Can my lender cancel my loan after 6 months? Because my car was supposed to be paid at escrow and NEVER WAS?
Hello and PLEASE PLEASE ADVISE...When I bought my home conditions were 60,000 down and pay off 15,000 car loan...due to credit score only 620..I agreed AND AT TITLE ..I noticed amount due from buyer (me) was 65,000 ..I asked ...VERY SPECIFICALLY ..." Is this amount right???!! Title said "Yes" ..I asked ONCE AGAIN..are you sure? My car is included for payoff? Title lady said "Yes" you had some adjustments and credits and all is ok...I said "ok"and I proceeded...NOWWWW...6 months later Lender calls says investor or bank wanting to buy my loan or serviser asking for payoff ?? Is it possible to now LOSE THE HOUSE???.. HOW IS THIS POSSIBLE ? PLEASE ADVISE ..I'M IN DESPERATE SITUATION by mplasvegas526 from Henderson, Nevada. Jan 4th 2017
Definitely a good question. It sounds as if the lender either has to assure the investor this loan has been satisfied, or you need to contact your servicer. There are loose ends in the question to cover all the bases here, but I can point you in the right direction if you wish to resolve this issue.
Brad Henderson (bradthelender)
#28 ranked lender in Nevada - 25 contributions
It is odd that it took them 6 months to discover this. I would have expected it to come up within a month of your closing. I doubt they have any legal recourse since this sounds like it was their mistake. This reads like they are looking for your help so they can sell the loan. If they have legal recourse, they will send you a demand for payment in full but anything else is most likely just them trying to motivate you to help them out so they can sell the loan. I have been doing mortgages here for 27 years with most of it in management so I am happy to talk you through it if you would like. All of my contact information is on my website www.loansforvegas.com. Brad
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