Think You Qualify For A Class Action Lawsuit?
Call (866) 313-1638

Home » Technology & Internet » Bank making it difficult to pay down the principal balance on your mortgage or HELOC?

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

If you have attempted to pay down the principal balance on your mortgage or HELOC, but your bank is making it difficult to do so or is applying your extra payments towards future monthly interest payments instead of principal, you may be entitled to recover money.

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!