Purchased the home in 2004, loan refinanced in 2008 and modified in 2010 with Chase Bank. I received notice dated 05/15/2018 from Towd Point Master Funding Trust informing me that ownership of my mortgage in the principal amount of $205,857 had been transferred from Chase to Towd Point, SPS as servicer.
On 04/27/2020 requested Payoff quote from SPS and received a total with unpaid principal balance of $274,399 plus interest. I responded with an Error Resolution Notice for the unpaid principal balance to be corrected to reflect the new stated contract amount per Towd Point notice of 05/15/2018. I also sent a Request for Information letter for SPS to provide detail of any new contract since that last date. SPS responded providing me with a copy of the loan modification signed with Chase Bank in 2010, which included a approx $55,000 deferred principal balance, an amount which Towd Point had not initially advised me that I owe Towd Point as part of my expressed principal balance with Towd Point.
I'm contending that...since the new mortgage holder, Towd Point, quoted me a different (lower) principal balance as the amount that I owed them, can I hold them to that lower amount and have them correct the payoff balance to reflect that lower principal balance? As my new mortgage company they sent me a principal balance and I would like to hold them to that. I believe that from a legal standpoint, Towd Point made a new contract with me in 2018.
How should I best handle this?