Can my mortgage co. do this?

[jessegirl]

Hi everyone - I have my 1st and 2nd mortgage with the same lender. I would always pay my payments online. I was told to stop paying my 2nd mortgage and to continue to pay the 1st. So I went ahead and closed out my original checking that I was paying them and all the other cc's with and reopened another account. I made my 1st mortgae payment online and naturally didn't pay the second. Now being that my 1st and 2nd are with the same lender, can they just go ahead and withdraw the payment for my second mortgage, being i paid the first online. I hope you guys and gals understand what i mean. Thanks

[keepmine]

Lokk at your account documents and see if they contain a right to offset clause.

[jessegirl]

Do you mean when I the mortgage? It was sold after 1 or 2 payments. Would the offset information from the 1st mortgage company continue to the next one if it was sold?

[AngelinaCatHub]

Probably not in that they discounted the mortgage to ANOTHER COMPANY, so they are cross colateralized. The reason you want to pay the first mortage is, that is your house, and the second mortgage to forclose on your house would also have to pay off the first mortgage before you could lose your house. "Hub

[keepmine]

As long as the checking account and the lenders are separate institutions, you're OK.

[jessegirl]

OK Great. I was worried that if I paid my first mortgage payment and not the second that they would just take out the second, being its with the same lender. thanks