Initially Frank and Janet thought it was a basic error. Their mortgage had been recently sold to a new organization with a new servicing company. As with the prior lender, they had sent in their mortgage payment by way of a private check among the first and the fifteenth of the month and the payment had been posted with tiny occasion as getting received as agreed.

About the 20th of month, a rather cryptic contact was received on the answering machine stating the payment had not been received and a late charge would be applied and charged and that they needed to make a payment right away. OK Frank and Janet reasoned that the payment might have been lost in the mail. Issues happen, despite the fact that it was the 1st time in two years that a payment was late. Frank and Janet has some credit challenges 3 years ago and found it required to entertain a sub prime loan to get the home that they currently resided. Therefore they were dealing with a sub prime lender and all that goes with it. Quickly, Frank and Janet known as client service and were capable to make a verify debit on line for the payment plus a late charge suitable out of their checking account. The late fee of 5% amounted to $62.50. Frank told the mortgage-servicing representative that they would put a quit payment on the verify and instructed them to flag the account and not deposit that certain check (with #10224 verify number dated on the 2nd of that month) as he was going to put a “Cease Payment” on it. Following the call they known as their bank and place a “stop payment” on that check. This expense them $25. 5 days later an additional contact came in from the mortgage servicing corporation stated that they had deposited the mailed verify and it came back resulting in a $50 charge for the transaction due to the fact it hadn’t gone through. The conversation went nowhere as there wasn’t a record anywhere.

Frank and Janet looked at each other and collectively rolled their eyes when verbally reviewing what had transpired. Frank asked Janet rhetorically, “Can you believe this”?
Best mortgage advisor near me and this time Frank and Janet make a special effort to send the mortgage payment in close to the 1st of the month. Around the 20th of the month, Frank and Janet received one more contact from the mortgage servicing enterprise indicating again, that the payment had not been received and that there would be an additional late charge. The discussion became extremely heated with Frank major the charge. Frank demanded to speak with a supervisor regarding the second time around of the mishandling of the monthly mortgage payment. The supervisor was not of a lot enable claiming the verify had not been received. Frank and Janet had been determined that they would not put an additional “Stop Payment” on this verify at a expense of $25. Not receiving any satisfaction, Frank told the customer service supervisor that he would contact back in seven days to see if the check had been received and posted. Seven days later, Frank called and the verify had been received and posted but there would be a late charge that would apply. An additional $62.50 late charge would apply. Frank and Janet were frosted beyond belief but at the identical time relieved that the check had arrived. What could be going on they wondered.

The subsequent month Frank and Janet decided to send in the mortgage payment a week prior to the 1st giving the mortgage servicing business a lot of time to get and post the payment properly within the time frame. On the 20th of that month a get in touch with was received from the mortgage servicing company stating once again the payment had not been received. Frank and Janet had been beside themselves. This time Janet demanded to speak with a supervisor. The supervisor explained that the check had not been received. Janet pressed the supervisor additional, “Has this been a recurring issue with other borrowers?” There was a lengthy pause of silence from the supervisor followed by, “Uh…no…I don’t believe so.” Janet wasn’t satisfied with any of the answers and what was going on with this new mortgage servicing organization and was determined to get the bottom of these “phantom late charges”. Adding insult to injury, the following month a thirty-day late was reported to the credit bureau. Frank and Janet engaged in their own spirited credit repair campaign.

Quickly, following obtaining off the phone with the supervisor Janet and Frank went on line and started researching the company for any data that may shed some light on what was happening. It was discovered a series of stories and articles about complaints relating to this servicing corporation. A ton of new service small business had been added without the employees to handle it. Verify and payments had been stacked up and untouched. Complications and complaints mounted. State and Federal agencies had been suing with massive fines to be levied. Frank and Janet decided to send bank checks by certified mail return receipt. This was less expensive than $62.50 a crack and could now prove ready receipts of their payments.