QUESTION
Can mortgage company take my October 1st mortgage payment and apply it to the 2nd without permission or notice?
Asked on Oct 26th, 2013 on Foreclosures - California
More details to this question:
I have a 1st and 2nd mortgage with the same company. Current on 1st, delinquent on 2nd. Can mortgage company take my October 1st mortgage payment and apply it to the 2nd without permission or notice, now making me a month behind on my 1st but yet still delinquent on the 2nd?
1 ANSWER
You should carefully read both of your deeds of trust, or have a lawyer read them for you, to see if they include provisions allowing payments between the two loan accounts.
Answered on Oct 31st, 2013 at 6:35 AM