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Bank making it difficult to pay down the principal balance on your mortgage or HELOC?

A team of class action attorneys is investigating certain banks’ practices of applying additional/extra mortgage or HELOC payments toward future interest payment obligations, rather than toward paying down principal. Many borrowers have complained that they have made additional or extra payments with the intent of paying down the principal balance on their mortgage or HELOC only to have the bank apply those funds toward future interest payments instead – leaving the principal balance unchanged.

If you attempted to pay down the principal balance of your mortgage or HELOC, but your bank applied the additional or extra payments toward future monthly interest payments instead, contact one of our attorneys today!