Mail sent rental property, not principal residence

[SamEfford]

For the past year or so when I have been refinancing a property or buying a new one, the mortgage company sends all the paperwork to the rental property address, not my principal residence. There has been full disclosure and they are aware that the subject property is a rental, however once the mortgage is complete, I need to call them to have them change the address.

This time my lawyer even sent mail to the wrong address! Good thing I have excellent tenants.

Any one else run into this situation before?

 

[Grant]

Whoa, triple post there! I deleted the extra posts. Please don`t hit the "Post" button more than once. Otherwise, I`ll have to raise the flood control time again, and people will get mad at me again.

 

[SamEfford]

lol Sure thing Grant. Sent you a PM on this. You sure are fast.

 

[FayWong]

QUOTE (SamEfford @ Apr 10 2008, 07:57 PM) For the past year or so when I have been refinancing a property or buying a new one, the mortgage company sends all the paperwork to the rental property address, not my principal residence. There has been full disclosure and they are aware that the subject property is a rental, however once the mortgage is complete, I need to call them to have them change the address.
This time my lawyer even sent mail to the wrong address! Good thing I have excellent tenants.
Any one else run into this situation before?I have. When I complained about not getting any documents the lawyer acted like I lost them. When I finally got him to give me copies of what he told me he sent I found he didn`t just send them to the rental address, the numbers were transposed so they disappeared altogether. He still acted like I was making unreasonable demands. I could have forgiven the address mistake, but not taking responsibilty really eroded my level of trust. I use a different lawyer. People usually have a system. Having the documents send to another address doesn`t fit into the system; they don`t look for it. If more than one person is handling your file (lawyer and paralegal) make sure you tell both of them what address to send things to. If you tell just one, instead of passing the message on they seem to assume the other person will figure it out. Pointing the address out to everyone involved seems to have solved the problem.

 

[kboughen]

QUOTE (SamEfford @ Apr 10 2008, 09:57 PM) For the past year or so when I have been refinancing a property or buying a new one, the mortgage company sends all the paperwork to the rental property address, not my principal residence. There has been full disclosure and they are aware that the subject property is a rental, however once the mortgage is complete, I need to call them to have them change the address.

This time my lawyer even sent mail to the wrong address! Good thing I have excellent tenants.

Any one else run into this situation before?

This has not been an issue for me with the Lenders, but the tax department and utilities have not been getting it right for me lately. I would suggest it is best to update your closing checklist and call the Lenders Customer Service department shortly after closing day and make sure they have your correct mailing address in their "computer". This is what I have had to do with the utilities and taxes.

 

[SamEfford]

Thanks Fay, I havent spoken to my lawyer yet about this yet. This is the first time they have done it on a half dozen deals.

That is a great idea Kevin. Another thought I had was having mail in my name forwarded from the rental property to my principal residence for 2 months.

 

[RebeccaBryan]

Yes Sam, This has happened to us as well. With Mortgage Statements and with City of Edmonton Taxes. It drives us nuts because just when we think we`ve sorted it all out, it happens again. I send written confirmation of the address changes by fax usually, and when it doesn`t get changed properly I make a phone call explaining to them how important it is that they do the change properly. I think it`s just one of those things that goes along with the business we`re in, which is too bad because when you go to look for mortgage statements at tax time and you don`t have them, you know what happened to them. Wrong address!! It is very annoying because of the extra work it causes.