Well, I just paid my first mortgage payment (yuck). I mailed in my first payment plus an additional $100 toward principal. I put on the check and the coupon stub to apply the extra $100 to PRINCIPAL ONLY. The payment is due 1/1/02. I mailed it on December 23 so it would get there in plenty of time. Guess what? They only applied a portion of my payment and they put all of it toward principal (no interest, no escrow, no PMI). I mailed $1500 they only applied $1300. Well, when I found this out I contacted their customer service department to explain what happened. The gentleman I spoke with said he would correct it and put in the request for the other $200. Today $200 has posted to the account. The $1300 payment (which is really $1500) is missing and is not showing at all. They still say I need to send the rest of my payment in by 1/1/02 and my additional principal only payment has been applied to escrow. So I still owe them another $1300 (so the computer says) to make January's payment. The problem is the check and the debit still have not shown on my bank account. So knowing my luck I will be debited $1700 instead of $1500 and I still have to contact them because their computer still isn't showing my payment applied to all the correct accounts. What a mess. Dani
Sounds like Amex LOC! Sorry to hear this. I know how you feel. You'll probably be on the phone the rest of this week getting this corrected.Good Luck!
It is Cendant. I've only heard of them once and they were suppose to have a good reputation. I called via phone and the only payment the computer said I had made was $200. So I checked the online site and it shows both payments one for $1300 and one for $200, but both payments are applied to principal and $100 to escrow. The computer (phone) says I still owe $1300 for January's payment. Nothing is showing under interest and PMI. The guy I spoke with the other day seemed pretty smart so I'm hoping that it is the holiday season that has screwed everything up and this isn't a normal occurence. I would like to pay online or via phone every month, but there is a $12.50 charge so I have no choice but to mail it. Well, another phone call to be made tomorrow. Hope everyone is having a good New Year. Dani
