QUESTION
What should I do if the mortgage bank deducted my mortgage twice and doesn't issue a refund?
Asked on Sep 26th, 2012 on Personal Injury - Michigan
More details to this question:
The first time I spoke with them, the day it occurred, I was told it would take 24 to 48 hours to complete the refund. After 48 hours, I called and was told the refund had been issued and it would be in my account Monday. Not there on Monday. I called again and was told it would be there "by close of business on Monday." Tuesday comes and still no refund. Called again and was told they would need additional time (up to two days or more) to issue the refund. Meantime, the transaction wiped out all of our money and cost us over $300 in overdraft fees. What can I do?
10 ANSWERS
Criminal Defense Attorney serving Anderson, SC
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The David F. Stoddard Law Firm
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Keep bugging them. Ultimately, you might be able to sue them to get the refund, plus the overdraft fees, but this might take longer than bugging them until they refund the money.
Answered on Sep 29th, 2012 at 2:03 AM
Consult with a real estate lawyer who handles mortgage complaints for specific legal assistance.
Answered on Sep 28th, 2012 at 11:44 AM
Personal Injury Attorney serving Charlotte, NC
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Paul Whitfield and Associates P.A.
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You could wait a few days. Corporations are like governments. They don't do things on 24hr cycles. If it doesnt get taken care of in a few days, write a nice polite letter to the North Carolina banking commission, with a copy to the bank and a copy to the better business bureau. You of course can sue them in small claims court but that will cost a hundred bucks or so and take a couple or three weeks at least. Try the banking commission idea firstwhen you send the bank copy make sure you send it to the president of the bank (check it out on the banks web site) when you want the best water you go to the head of the spring.
Answered on Sep 28th, 2012 at 11:42 AM
Personal Injury Attorney serving Richmond, VA
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Blank & Marcus, LLC
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You should sue them in General District Court for the amount of the payment plus the overdraft fees plus interest from the date they wrongfully took the payment.
Answered on Sep 28th, 2012 at 8:46 AM
Brain Injury Attorney serving Baton Rouge, LA
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The Lucky Law Firm, PLC
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You should definitely call and speak to someone in higher management. Also, you should demand the company reimburse you for any overdraft fees for which it is responsible.
Answered on Sep 28th, 2012 at 8:45 AM
Real Estate Attorney serving Williamstown, NJ
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Law Offices of Slotnick & Schwartz
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Send the mortgage company all the overdraft fees to pay. Keep after them daily if necessary. Find somebody hiring in authority to help. Once you get all the fees and they do not pay file suit in small claims court to get the money back. Also when it is over report the overdraft issues to your credit bureau and have them put a note on your file.
Answered on Sep 28th, 2012 at 8:45 AM
Chapter 7 Bankruptcy Attorney serving Syracuse, NY
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Andrew T. Velonis, P.C.
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Nag them to death. This will be a project. Keep a diary of who you called, what number you dialed, that person or department's extension and what was said. You may have to call every day for weeks. Politely but persistently insist on your refund and reimbursement for the overdraft fees. Find out the name and extension number of the supervisor of each person you talk to. If this is not resolved in 3 - 5 weeks, start calling the banking department of the state you live in. Follow the same routine. Then do the same with any federal banking agency you can find. Finally, write a letter to your local member of congress, outlining what you have done and asking for help. It works, but its a pain in the neck.
Answered on Sep 28th, 2012 at 8:44 AM
Civil Litigation Attorney serving New York, NY
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Havens & Lichtenberg PLLC
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I would write a very polite letter to the president of the bank, describing the situation and listing your losses, to a cent. Ask the bank to please refund the unlawfully withdrawn amount and compensate you for the total amount of the overdraft fees within 3 business days. Send the letter by certified mail and save a copy. At the same time, go to the bank where you have your checking account and notify them, in writing, that the withdrawal was unauthorized, and that you have attempted to resolve the problem with the mortgage holder - unsuccessfully. Ask the checking bank to solve the problem and to refund you overdraft fees. If neither of the banks comes through for you, sue them both. If the amount in question is under $5000, you can do it in small claims court, without an attorney (although with an attorney you can likely get your money back faster, and the court might order the defendants to pay your attorney's fees).
Answered on Sep 28th, 2012 at 8:43 AM
Plaintiff Animal Bites Attorney serving Missoula, MT
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Bulman Law Associates PLLC
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Call your bank and ask them to reverse the overdraft charges. Then arrange overdraft protection by tying this account to a savings account so it can't happen again. Refinance the house with a different company.
Answered on Sep 27th, 2012 at 6:32 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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If you are totally current, take them to small claims for the refund and the damages they caused.
Answered on Sep 27th, 2012 at 6:31 PM