Your Questions About Check My Mortgage

Lizzie asks…

alliance and leicester turned down my request for an advace n my mortgage as the credit check showed a missed?

admin answers:

Yes, they probably would. What’s the question?

Chris asks…

A mortgage is in my in-laws name I pay the mortgage with personal check. What can I get back for the payment?

The title of the mortgage is in my in-laws. I make the check payable to the bank. How do I claim this on my taxes? Can I get any form of loans since I am making all the payments?

admin answers:

You reap no legal benifits for paying the mortgage on a house owned in someone else’s name. Leagally they own the deed and the real property, and the bank does not care who sends in the check for that account number as long as it is getting paid. To reap ANY benifits, you will have to have the property deeded to you in what is called a “Deed Transfer” which any lawyer in real estate law can draw up for you, but all parties have to be agreed, and your in-laws will have to sign off on the deed, or they can sell the house to you if they still have “Equitible Ownership” in the house meaning that they still have money in it.

Nancy asks…

I received a check from insurance that is made out to my husband and/or myself and/or mortgage. How do I cash?

What do I or my husband need to do to get check cashed to pay roofers.

admin answers:

You call your mortgage company.

Look on your payment statement – there should be an 800 number. Call it.

Tell the mortgage company that you have an insurance check and they are listed on it. You may have to get transferred a few times before you end up speaking with the correct department. But the mortgage company will tell you what to do to get the check endorsed by them.

Everyone who files a homeowners claim and has a mortgage on their house….gets a check with the mortgage company listed on it.

That’s because your policy has a loss payee clause that requires the insurance company protect the mortgage companies interest in the property. The insurance company does this by listing the mortgage company on the check.

Donald asks…

I’m paying down a large check on part of my mortgage. Which box should I mark?

Additional Principal or Additional Monthly Payment?

admin answers:

Additional principal! Otherwise, part of it will go towards interest. I never figured (except maybe for the immediate tax benefit) why anyone would put it as an add’l monthly pymt.

Oh, and see with the mortgage co., if you can get ready fo the mortgage insurance. They won’t just remove it and will let you keep paying it on and on unless you ask.

James asks…

BofA returns “partial payment check” being $4 short?

I received a letter from BoA returning my mortgage check to me. The letter said that “…the payment received was less than the amount required…”. But the letter did not explain why they consider my payment too low or what actions I should take.

I went online and checked my mortgage account, where a message pops up, saying that I have missed one payment. The total payment amount due was $4 higher than what I had sent.

I have not received a notification from BofA about any increasing rate.

I saw the letter only today – 9 days after the bank sent it (I was traveling on business). It is already too late to make a new payment within the grace period.

I called them, but they are closed on Saturday and emailed as well. How do I handle this best?

Aren’t they supposed to inform me ahead of time of any mortgage increases?
Can the charge penalty for the full mortgage amount of almost 3K, because my payment was $4 dollars short?

Thanks for your advice,

Claudia

admin answers:

It sounds like your escrows might have been increased. Since you travel I bet you have automatic payments set up and just missed the statement showing the increase. The computer will certainly charge you late fees but it would be vulgar for them not to waive the fees or to report to CRB’s you were late

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