Our mortgage was recently bought by another bank, so far this has not been a good thing. We have lived in this house for 13 years, we have never had late mortgage payment. The new company took over 2 months ago, when I got my last mortgage bill it didn't seem right to me and upon looking at the history it appeared that the last payment was never received. So I cancelled the check, and immediately sent out a payment for the previoius month which for some strange reason they did not recieve and the new payment. Plus I paid the late charge, even though I sent the payment out, but I didn't feel like messing with it so I just paid it. The bill was only 3 weeks late, so I don't think it will show up on my credit report or anything like that.
Today I get this phone call from the bank telling me they did not receive my June payment, I told them I sent that bill in 3 weeks ago, and I know they received it because I have seen my statement. I told the girl that I made a double payment, one for June and one for the previous month. She tells me that yes they did recieve a payment for XXXX amount, but half of that had gone to principle, and did I want to pay my bill now credit card.
I was like, "Whoa wait a minute, what do you mean it was applied to principle? I made a double payment." She told me again it was applied to principle and would I like to make a payment over the phone. At this point I actually got nasty, I am getting really tired of all these companies screwing up, this keeps happening to me, and I will be darned if I will allow it to happen on something as important as my mortgage and something that can affect my credit rating. I told her I made a double payment and there was no reason that half of that money should have gone to principle, that is not what I indicated on the bill, and this was their issue and they needed to fix it. At that point she put me on hold for about 5 minutes, then came back and said it had been fixed and she apologized for the inconvenience, and that it was their error. I told her she nearly gave me a heart attack, and she apologized again for the inconvenience.
At this point I am not feeling all that confident about this new bank that is now holding my mortgage, they possibly lost my last payment, and then applied a payment to my principle and sicked a collector on me. This can not be good.
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Comments: 19
*sigh* I hate when stuff like this happens. Nothing brings on a panic attack more than stuff like this. For me anyway :(
yikes sounds like you are going to have to keep a close eye on what is going on with the account.
which is going to be a pain for you
Keep all the info that you have on this matter. Who you spoke to at the bank, etc., dates, everything. If it happens again, I'd contact my State Attorney General's office and send them everything. You should not have to pay penalties for their errors.
I'd also add that if ANYTHING like this happens again, wether it's the mortgage or credit card, or whatever, you call the place IMMEDIATELY. You shouldn't have to pay fees or penalties for their error, you also shouldn't have to pay for the canceled check.
Unfortunately with the check that I sent that they did not get, I can't be sure if the post office lost the check or if they did. It is just really ironic that I have never had a problem until this new bank took over.
Is it Wels Fargo? I'm asking because they purchased my mortgage 2 months after we bought the home and I have had NOTHING but issues with them, from misinformation to 4 certified letters telling me my house was in foreclosure because I was a few weeks late with a payment. Each time I call I get a different answer, etc. I HATE THEM with a passion. So if its them, you are NOT alone.
It would really be great if we, the mortgage holders, got to pick WHO could buy our mortgage. ITs not right that we go with one company because we like them and their policies and they turn around in a few months (or 13 years in your case) and sell to someone who is TOTALLY different in every respect. Ugh, I never thought I'd look back happily at renting!
We have Wells Fargo on both of our houses and one of our cars and have never had a problem. That is so strange!
Our mortgage got sold from the local bank to one in a different state only 5 months after we bought the house last year. The bank has been a HUGE hassle ever since. We used to make our payments in person- no missing checks, no chance for error, it was applied immediatly right in front of us. Now we have to mess with sending payments, and wondering when the bank will apply it. Grr..
Wow, that sounds like one horrible nightmare! I just can't understand why mortgages are sold from one bank to another, anyway.........not good news.....yeah, it probably sounds like you're going to have to keep close tabs on that new company....what a bummer and real hassle.....ughhh! Sure hope things work out.
What a pain! I would not bank with the bank that purchased our mortgage but in the 18 months that they have had it we have not had any problems. Knock on wood.
I use the online bill pay feature with my bank, they do all of it electronically and if they can't, they mail the payments. It is free to use and I don't even have to pay for shipping if they mail a payment for me. I have never had a problem but they back it up if there ever was an issue with someone not getting a payment.
We went the same route with Countrywide,only they never straightened it out. I was paying with money orders, and had no real proof of payment. I ended up losing my first home 14 years into 15 year loan. My present home is the old family home, I have moved into and started rebuilding it. i wish now I had just done that to begin with. I wasted about 52,000 dollars for nothing. Live and learn I guess.
sounds real scary to me!
I'm glad you stuck to your guns!
Oh my, sounds like a huge headache. I hope it is just a problem with the transfering of banks and it settles down for you. I would die.
Our mortgage company was taken over too. So far, things have been smooth. My fingers are crossed!
thanks for posting to 9911