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Hi,
So I am new to this area, but I have a question that I hope you guys can help me with...
My husband owned a townhouse, lost his job and was forced to start the shortsale process in October 2011, which is just now wrapping up. This original first trust on the mortgage was with BofA which sold it about 3 months after starting the shortsale process to M&T bank. The Second trust is with Green Tree.
Basically, DH got the tax info on the house from BofA which said that he only paid $781 in interest in 2011, though he paid well over $20K. Does this have to do with the shortsale? How do we fight this? What options does he have?
Thanks in Advance!
Well that doesn't seem right does it. So payments were made each month on time until October 2011?
Sometimes, the numbers can be skewed because of all the late fees and penalties the mortgage services tacks on... that way any payment you made to them simply covered the fees, and not the actual accrued interest. And if you never actually paid the accrued interest off, then you wouldn't get credit for it.
If you have monthly statements showing your payment was made on time and how much was applied to interest, then you can always call them and ask what the heck is up. That is usually the quickest solution. People on the internet can't help you understand a personal billing issue with no access to your account records.
update:
Called BofA, they didn't send (or we didn't receive) the 1098 for the first trust on the house which was $16000...Woohooo for taking me out of the bucket of owing taxes to being issued a refund!! ROCK ON!!