Home » mortgage bank

Can the bank apply a payment for mortgage to another loan?

Written By: admin on October 6, 2009 One Comment

We have (2) loans, our mortgage and a line of credit on our home equity. My husband lost his job and we were trying to keep up the payments on our mortgage. When he paid a payment he used a payment coupon for the mortgage loan. Instead of applying the whole payment to our mortgage, the bank place some of the payment towards (1) month of the mortgage loan and the rest towards the home equity loan. So now we are still (1) month behind on our mortgage payment and the home equity loan is paid for about (4) months ahead of time. We are trying our best to keep this house.
Yes my husband used a payment coupon with the loan number on it and he received a receipt for the amount and the loan number was on the receipt also.


Related Articles

Related Financial Planning Posts

Tags: , , , , , , , , , , , , , , , , , , , , , , , ,

Tags: , , , , , , , , , , , , , , , , , , , , , , ,

Digg this!Add to del.icio.us!Stumble this!Add to Techorati!Share on Facebook!Seed Newsvine!Reddit!Add to Yahoo!

Top incoming search terms for this post

One Response to “Can the bank apply a payment for mortgage to another loan?”

  1. Big Deal Maker on: 6 October 2009 at 7:15 pm

    I would highly recommend a real estate attorney in your case.

Leave a Reply:

XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

  Copyright ©2009 Financial Planning, All rights reserved.| Powered by WordPress| Gandhi theme by Techblissonline.com