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My mortgage was sold but the original lender is still demanding a payment - who do I actually owe?

My loan closed in June and got sold to a new servicer in July, but the original lender is now demanding my August payment even though the new servicer shows nothing due. I dont want to pay the wrong company or hurt my credit, so what should I be asking each lender to sort this out?

6 Answers

Want to cancel the buyer/ broker addendum and the owner broker won’t send it to me.

The broker is pressuring me to sign the cancellation of the listing agreement, and I want to sign that with the buyer/ broker addendum at the same time.

4 Answers

How do I read a condo's SIRS study and reserves? Under contract in Pompano

Under contract on a 2/2 in a 1987 oceanfront building in Pompano, $525k, HOA $1,150. Got the SIRS study and the budget this week and there's no actual number anywhere telling me what I'm exposed to, So I did it myself: roof, plumbing risers and balcony waterproofing all flagged, easily $3M of work, and the reserves for those lines look like a few hundred grand. 96 units, so I'm getting close to $28k a door.nnIs that how you're supposed to estimate it, or am I missing something? And is a summary page plus the budget enough, or should I be pushing for the full report and the milestone inspection before my inspection period runs out?

5 Answers

Our listing has gone quiet again after a price drop - what actually gets buyers back?

We dropped our price $30k three weeks ago and had a nice bump in showings, but its cooled off again and we're back to almost nothing. Everyone who's toured it says they love the yard and the layout, just not ready to commit yet. My agent says just be patient but I dont know if thats really a strategy. We could drop another $10k or offer buydown credits instead - what actually works better to get a stalled listing moving again, and is it too soon to try either one?

12 Answers

Should we get our own inspection done while the house is still listed?

Our house has been listed a few weeks with interest but no offers, and a roof leak plus some old siding damage keep coming up as buyer concerns. If we pay for our own inspection now and it finds more problems, do we have to disclose that to every buyer after, or just whoever we go under contract with?

6 Answers

Buyer still isn't ready to close and we're stuck paying for two houses - what can we actually do?

We were supposed to close two weeks ago. Already bought and moved into our new place so we're paying two mortgages now. Come to find out the buyer still doesn't have final loan approval and title wasn't even ordered yet. Nobody told us any of this until we started asking. Can we push for a deadline with real teeth here or some kind of penalty, because I am so done waiting around?

6 Answers

Seller left a huge storage container on our property after closing - what leverage do we actually have?

We closed a few weeks ago and the seller asked to leave a big storage container in the driveway for just a few days while he found someone to move it. It's been sitting there for weeks now taking up space, and he says it's heavy and hard to deal with. What can I actually do to get this off my property since it's technically mine now?

8 Answers

Will our rate lock actually hold through a mid-December closing?

We're closing on our new build mid-December and rates just jumped again. Our lender won't lock anything more than 60 days out. What are our options if rates move a lot before we're inside that window?

5 Answers

I need help selling jointly owned property where both owners agree to a split sale.

I own 10.3 acres, and my ex-husband owns 10.3 acres. We both agree for me to sell so I can relocate. Who do we go through to sell my 10 acres? Even though it's registered with the tax office as a 21 acre lot Homestead. Exempt

7 Answers

How is a gift of equity supposed to be reflected on the seller's settlement statement?

My parents are selling their home to me for $415,000, though it appraised at $515,000, with the difference structured as a $100,000 gift of equity. I had understood they would net approximately $415,000 from the transaction while I would effectively have $100,000 toward my down payment. However, their settlement paperwork shows them netting only $315,000, with the gift subtracted directly from their proceeds. Could someone clarify whether this is the correct way for a gift of equity to be applied?

9 Answers