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Old 11-28-2015, 11:41 AM
 
16,532 posts, read 17,618,250 times
Reputation: 23686

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Quote:
Originally Posted by johnrex62 View Post
There is always the chance of screwups. Back in 1985 I bought a house and the mortgage was sold 9 times in the first 4 months. We got a notice that our latest mortgage company required an escrow account and our payment was going to more than double. I asked what happened to the escrow account we setup when we closed 4 months ago. Nobody had any record of it anymore and said one of the prior companies must have used it for something and not told us.

We had the choice of funding the escrow account again or fighting a foreclosure.

You know what I do? I pay my own tax bill. I don't trust a bank to pay it correctly on time etc. I get the bill I write the check.
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Old 11-28-2015, 01:26 PM
 
10,157 posts, read 9,922,433 times
Reputation: 3914
Quote:
Originally Posted by AZ Manager View Post
Almost all mortgages have a 15 day grace period, if you don't see your check deposited within 2 weeks that is kind of on you. If you used online bill pay the money for the check is withdrawn the day the check is sent and that holds up in court as paid assuming you entered the billing information correctly. Are you really as miserable and cynical a person as your posts convey so954?

Pay your bills on time and you will never have issues.


Are you related to SNIDELY WHIPLASH?
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Old 12-01-2015, 10:22 PM
 
Location: NC
581 posts, read 1,192,248 times
Reputation: 163
Quote:
Originally Posted by RobertaWa View Post
... I do use bill pay for other things and I should absolutely use them here.
I haven't used bill pay in the past but I have that facility via my wells fargo account.

When paying monthly mortgage with a bank's Bill-pay Is there place to put a note or instructions? I usually make extra payments and want instruct applying it to my principal.
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Old 12-02-2015, 10:59 AM
 
182 posts, read 176,313 times
Reputation: 227
I was sold to them as well and was horrified at reviews I read. I got out of my escrow after 10 months, I would recommend asking as that seems to be the bulk of complaints. I have my escrow in my account earning 3% interest and couldn't be happier. A lot less stress and I am making a little money off of it.

Since it is just P&I they haven't screwed up with me. Their website sucks and the one time I called I found their customer service is horrible. I push the payment to them ACH via my bank bill pay, I wouldn't let them pull if I were you. I also check every payment against an amortization table to be sure it was applied correctly. 2 years in and no issues just don't call about online access. They are stupid and won't help after you wait on hold forever. It took around 30 plus days...just let it happen and save the frustration.

Good luck with extra payments. I found it simpler to just do one lump sum at the end of the year. They have about 10 different addresses and a very specific rule about where extra payments should go. PIA.
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Old 12-02-2015, 11:08 AM
 
Location: la la land
27,320 posts, read 11,428,416 times
Reputation: 19327
Don't automatically assume that banks do a better job at loan servicing. Our mortgage was sold to Colonial Savings Bank and they are just plain incompetent. I use my bank's auto pay and have the payment sent 3 days before it's due. For several months I would get a phone call when it was past due asking when I would make the payment and each time I would log on to my bank, print out the statement where it showed the payment had cleared two weeks earlier and each time they would say "well, ok we will reverse the late charge" I think they finally got that part straightened out but when I called them to notify them that I was changing insurance companies it took 3 phone calls, two faxes and two weeks.
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Old 12-08-2015, 11:45 AM
 
636 posts, read 669,216 times
Reputation: 334
They have not accepted nor responded to any of our certified letters, (we sent several).
Money finally showed up in the right place... Just hope we do not have this issue every month...

How tall is their office building btw????
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