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Carol Talbott
  • Nashville, TN
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Mortgage holder won't tell us payoff amount on loan

Carol Talbott
  • Nashville, TN
Posted Dec 6 2016, 12:27

6 years ago we got a $150k mortgage on a house. The loan was sold to a mega bank. Things were good until last year when a life threatening medical condition caused us to lose 1/2 our income. We fell behind on our mortgage. We applied for mortgage assistance and the bank has been dragging their feet, losing our application, claiming the application expired, then losing the new one. Then asking for more proof of income, different tax documents, new, redacted documents, etc. 

In the meantime we put the house up for sale and we have a contract to sell the house for about $90k more than we owe on it. The closing on the sale will be about a week before foreclosure. 

We are in the week that closure on the house is supposed to occur (forclosure next week), everything is in line to close. Except the bank will not tell the title company what the payoff is. Just flat refuse. They refuse to tell us (as the people on the loan) also. They say we have to fax written authorization and give them 72 hours before they will tell us/title company. The title company faxed over this authorization and they say they never received it. (Same thing they did with the assistance application, repeatedly). 

We are getting to the point where we are going to lose the sale, and the house simply because they won't tell us how much we owe them. 

Is this even legal? Can they take my house when they won't tell me how much I owe so I can pay it??

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