Legal Question in Banking Law in California
My aunt is on unemployment. Dec 2009 she applied for the stimulus package no help yet. She is a homeowner. Since march 2010 she has not been able to make a payment. Bank of america offered to pay the impound tax & property tax with no papers signed they just called and told her. Now she got papers that her mortgage went from 1089.00 to 1789.00. Is this legal since she never signed anything? Her mortgage is on a fixed rate for 30 years?
Asked on 9/21/10, 9:41 pm
1 Answer from Attorneys
Yes, it is legal. The loan papers will have provided that when taxes are delinquent the lender may pay them and charge the borrower.
Answered on 9/28/10, 11:05 pm
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