Can My New Lender Charge Me A Late Fee If I Paid The Old Lender On Time?
By Andy Miofsky, Illinois Consumer Law Attorney on Apr 1, 2009 in Mortgage Servicer Abuses, RESPA
No, if you paid your original lender on time, the new lender cannot charge you a late fee for the first 60 days after a transfer, according to the federal Real Estate Settlement Procedures Act. Plus, each lender is required to give you notice 15 days before your payment is due when an account is transfered so that you know whom to pay and where to send future payments.
Related posts:
Sorry, comments for this entry are closed at this time.