Closed on this transfer on 12/19.
My mortgage is still showing up in my account. The balance decreased today, shows pmt was made 12/30 (pmts are due the 1st). And now showing new pmt due 2/1.
I’m so confused. Was this pmt today from closing last week? When will this disappear from my account? Will this hurt my credit?
Buyer was a veteran and assumed my loan and used his own VA entitlement (or at least was supposed to & that’s what my final statement says). But now I’m paranoid that he didn’t actually use his entitlement and I’m stuck with it.
Transferred my home via VA Assumption…mortgage still in my bank account
byu/booksandbeaches725 inRealEstate
Posted by booksandbeaches725
1 Comment
Banks are notoriously slow with updating systems after assumptions – could take 30-60 days to reflect properly. That payment was probably made at closing and is just now processing through their ancient systems
Call your loan servicer ASAP to confirm the assumption went through correctly and get a timeline for when it’ll drop off your account