Building / Maintaining a Home
Mortgage Co. HUGE Screwup

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By Wingenit
March 25, 2003

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I first posted this on the LBYM board, then thought of this one. I thought I would pass along a little "watch out" to everyone for the lesson we are learning this month.

NEVER assume your mortgage company is doing what they are supposed to do. We have been holding our first mortgage on our first house for a whopping three months, and they have already managed to screw it up royally.

Our first mortgage payment was due January 1. We had the money Dec. 1, and I knew that we would want to be on the plan where you pay half your mortgage twice a month (to build equity faster). This plan requires paying a month in advance (so that your 2nd payment always gets there before the due date). So I started paying our mortgage a month in advance.

Here's what the incredibly stupid mortgage company did. They attributed the first payment to principle & have been showing every payment since then as late. They have not sent us a single notice about this. I got a call a couple of days ago from an operator wanting to know when we were going to start making our payments on time. I was horrified and said, "I've been making them a month in advance since the beginning!"

They then told me that in order to become recent on the payments I would have to send them another full mortgage payment within the week. As if we just keep this kind of money laying around! Our mortgage is 1/3 of our take home pay!

After some wrangling & much arguing and two very rude operators, they have finally agreed to go back & attribute the original "principle" payment to our payment due April 1. I am flabbergasted and shocked and outraged that they refuse to remove any more than ONE of the late payment notices to our credit saying, "this is your mistake for paying early, not ours." They say they are being very lenient in taking one of them back.

<disgust> My mistake for paying early. </disgust> Just for toppers, the great state of California has decided to charge us another 25% ($500) in property taxes because the property "changed owners." Due in the next few weeks.

and obviously not living right, or something.

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