Mortgage Loan Balance Error in Holder's Favor

[vzgirl]

A friend of mine received their mortgage bill and noticed the balance was about 189,000 less than what it should be, so it looks like the mortage is almost paid off........in actuality it is not!

Will the bank catch this error? what should we do?

[Mr. Knowitall]

It's not apparent that the error goes any deeper than the billing statement - your friend can call the lender and inquire as to the balance in their records. There is a substantial chance the bank will catch the error, assuming it is more substantial than a typo on the billing statement.