Rental Property Investor · Fayetteville, NC · Member since 2019 · 1 post · 0 votes
Hi everyone, my wife and I are new investors. We've owned our first investment property for only 3 months. We got a statement from our mortgage company showing our payment for the past month is overdue. On the phone, a representative said they made attempts to withdraw the payment but neither went through. However, my bank accounts show the money was withdrawn by them, and I have provided the mortgage company with the bank statement as proof.
Are there any other documents I need to provide to the mortgage company and how should I handle this situation if it drags on into the next payment period and this missing payment becomes late in the eyes of the mortgage company?
Property Manager · Atlanta, GA · Member since 2016 · 35 posts · 23 votes
7y
I would open a fraud investigation with their legal department, they may have another name for it but it signals that their team that handles mismanaged or fradulent payments would need to get involved. I would also make sure you speak to their corporate office if they have one, if you can find it. Otherwise, if there is a branch near you, you might need to go in.
Real Estate Broker · Hyde Park Tampa, FL · Member since 2019 · 2k+ posts · 3k+ votes
7y
I would ask your bank to provide you with the actual routing/transit information for the transaction to show where/how it was sent to the Mortgage Company. That will leave no room for dispute. I'm sorry you're having to deal with this and I think this will ensure that it doesn't happen again...