I have my mortgage and 2nd with mortgage accelerators and have for over 15 yrs.There have been no problems till Sept. of this year when suddenly my 2nd was not being paid, wrong address was the excuse took a month and many calls to get it fixed.
Then last week I received two letters telling me two payments, one in 2011 and the other in 2014 had not been paid to the mortgage companies and looking at the quarterly statements I was told those payments had been made. I was told I would be getting this money back. and I would receive my money back by Friday , Monday at the latest (direct deposit). It is Tue still no money, now it will be 8-10 working days.
In Oct suddenly they stopped paying the second altogether and closed the account without my permission, but claimed I did it, but could not give me any proof I closed it .I had to fill out forms and fax them back to reopen an account I did not close. It took two weeks and the payment was late and when questioned why two weeks into the situation the payment was still not made, I was told it took 24 hrs for the funds to clear, well 14 days is well over 24 hrs. No one can tell me why my payments in 2011, and 2014 were not made and was told "you pay extra payments anyway so you didn't miss any payments just and extra one." But I guess I'm dumb, but wasn't that the whole point of the account? I have been hung up on , insulted by customer service.
and been treated like I was not paying my mortgage by the banks ,when I have never been late or missed a payment. It's very distressing to suddenly get a letter talking foreclose on your house when you have been paying more than you have to.
Reason of review: Problems with payment.
I didn't like: Being lied to, Bad customer servise, Wait time to talk to real person.