Can bank do this?

[EweSheep]

Each month on the 3rd to the 6th, we always paid on time with the mortgage thru our bank. Even the original loan said it is the 1st of each month is due but we asked them to automatically take out the amount for our loan. So they always took the amount on the 6th to the 8th to withdraw our money for the loan. It was never paid on the first after two months after we moved in the house.

We are in our eighth year living in the house and all of a sudden we owe money of one month's mortgage amount and we need to contact them about deliquent pay. What the heck! After all those years and doing payments online ahead of time, on the third of each month (my SS money pays for the mortgage) and my name isn't on the loan but my husband.

I am seeing RED and fraud because I looked at the past records of auto withdrawals by the bank, ranging from the 6th to the 8th of each month, depending on which date fell on the weekend and if it does, it moves to Monday. That's fine with me. Always had money in the bank on the 3rd or on the 1st if the 3rd is on a weekend. If they wanted to be on the first of each month why didn't they send us a notice about being late??????????? This is the very first notice we ever received about being "late" ....makes me MADDER than heck!

We will be going to the bank tomorrow. I sense FRAUD and why they waited eight years to let us know we are "deliquent" in our payments. I looked online our mortgage, we have been paying UP TO DATE and NO LATE fees, etc.

Whats up????? Can they do that???? Or do we need to "revise" our loan payment due from the 1st to the 3rd???????

I just don't understand it one bit. Hubby had four jobs since that loan was made so he did inform them that he had different jobs. Not a problem with them, we had four loans, not ONE loan officer told us about the mortgage being late or anything of that nature when they did a background check for credit. Hubby has an excellent credit.

Anyone KNOW ?????? Or can explain ? I don't want to make myself an a*** when I go in there not understanding why they would do one thing and not the other.

 

[fuzziebutt]

Just go in there in the morning, nice and sweet, and ask them what month you are late in. Be sure to have your banking statements that show where each payment was taken from your checking account. Listen carefully, as they may have made an honest mistake, or possibly, you may have. If nothing seems to add up, then find a branch manager to take it up with. There is a ladder you can go up to get results. But get a print out of the payments that you have made, and the dates.

 

[EweSheep]

When I went online, went thru the "all transactions" and for April month, all it said blank blank blank for a few $$$ of different things like PMI, credit, and showed the total amount of our mortgage. On my bank statement (thankfully I didn't shred it) it said online paid on 4/5 on this total amount of mortgage (the full monthly amount) and deducted from our checking account.

Then I went back on the mortgage, we don't owe anything. We could not even pay anything extra because the amount has been paid that month and this month. Nor there were any late fees encurred at that point either. Someone would have told us or send us letters regarding to the late or pay the fees.

In that same month of April, What's fishy was one of my debit card was "hot"...they issued me another card. No problem there. They would not say who is tapping into the account or the source of the buyer....another fishy information I can not get an answer out of the cashier which all she could come up is that the bank thought someone stole my card. I check my account almost every day. Nothing was withdrawn or susceptious at that time. New card and new pin number, all is well but it does not correspond the mortgage date, it was in the middle of the month when the debit card was declared "hot".

I am really scratching my head on this one.

 

[EdenCamp]

You get more flies with honey.......

There could be any number of reasons and possible errors including a policy change at the bank.
They'll work through it to discover the reason for it.
You shouldn't even need to fish out your bank records - they'll have them on file.
Actually, you could just call them and ask them to research it and get back to you.
Save you sitting there all that time while they are digging.
Often times in the interest of good PR, even if somehow the error was on your part, they may waive all or part of the penalties.
Never hurts to ask.

Good Luck!

 

[NovaAman]

If they are automatically taking the payments out of your account, even if the auto pay comes thru later than the due date, then that can not be it. THEY ARE TAKING THE PAYMENTS OUT. If you were going online and making the transaction manually every month, then that might be different. I think there must be an honest mistake, and no, don't talk to a cashier. Talk to a loan officer, or someone along those lines...

 

[thaiturkey]

Ewe Sheep, if I read correctly what you wrote, your payments are up to date and there are no recorded charges on your account. If that's right, then the issue centres only on whatever notice you received regarding alleged arrears. There are occasions when businesses write to the wrong person but I think that it's unlikely with a bank in these days of automated correspondence.

Was it an email you received or a 'phone call? If it was a letter, compare the address and 'phone numbers on it with ones that you already know. This could be an attempt at phishing. A warning that a mortgage is in arrears is a great way to throw someone off balance and frighten them into giving away private information.

You need to contact the bank, as you say, but I'd be inclined to call them on a number I already know, not one in the communication about arrears. A visit to a teller will leave you waiting while he or she 'finds someone who can help'. Even if the letter is genuine, it's unlikely that the branch staff know anything about it. These things usually come from computers.

A general point with issues like this is to go straight to the top of the organisation if a clerk type doesn't deal with it promptly and satisfactorily. Don't fear the clerks or bosses - they are paid from the profits made from you and other customers.

 

[debilorrah]

B of A?

 

[redhen]

Ewe, is the bank sending in the payment for you? They could take it OUT of your acct on the 4th,.. but not be actually sending it at that time...

 

[debilorrah]

Ken's funeral is supposed to come out on the 25th. It never hits the bank til like the 5th or 6th of the next month. It messes me up!!!

 

[EweSheep]

It is a town bank, not owned by B of A I don't think so....Soy Capital Bank, that is....... I don't think they are owned by any mega companies.........

The loan due date is on the first. We signed on it. It was before hubby lost his job and I didn't have my SS at that time. All is well until hubby lost his job. He went in and talked to them. Said it was not a problem and pushed the date to the 6, 7, 8 of the each month (non weekend dates) and we requested it to be automatically taken out of our account each month.

For years, its on the third, sixth, seventh day of each month they would take it out. When we got online to pay online bills, I started paying the mortgage EARLIER than the dates they listed under the transfer of funds to Freddy Mac loan, on the third to the fifth of each month. No problems and money always taken out of our account once I made the online payment. They NEVER took any payments on the first, rarely on the second.

There is NO way I would make payments on the first unless the third falls on a weekend that SS don't issue the checks. by far, SS never late on the checks automatically deposited in our account. Sure, the bank would see that. I never had ANY late charges or anything like Thai mentioned.........I've tried getting online this morning, can't access to it at all.

It is the letter, with Soy Capital logo, same layout as I get my balance paper sheets each month, loan papers and it looks legit. And the envelope is posted from Springfield as all of letters/paperworks from Decatur business would go to Springfield and sent back to Decatur to be delivered. (Don't ask me why they do that but I do know the USPS did away with "local" post slots.)

In the letter they would say Dear Customer

Loan Number
Principal Balance over 30 thousand dollars
Interest charge over two hundred dollars
Late Charges: ZERO
Escrow Balance: over a thousand dollars
Payment due date: 4/1/12
Total Amount Past Due: mortgage amount
total Amount Due: Mortgage amount
Current Days Past Due: 37

The Housing and Community Development Act of 1987 requires creditors to notify eligible homeowners with delinquent loans or loans expected to become delinquent due to an involuntary loss of income, of the availablity of homeownership counseling.
Homeownership counseling is provided by us, HUD approved counseling agencies and (where appropriate) the Department of Veterans Affairs.
If your loan is delinquent due to an involuntary income loss, you may contact us for counseling or a list of HUD approved counsling agencies will be provided for you.

Thank you for Letting Soy Capital Bank assist you with your financial needs.


There is no signature or anything. The letter is dated 5/7/12.

Online payment was made by me on 4/6/12 in the same amount of mortgage payment required. No more and no less the amount. I got a bank statement saying that I made an online payment of that said amount and so forth. If I made a mistake of paying less, fogot about the change of payment (its a fixed, not adjusted) the bank will automatically take out the difference. Not a problem.

Hurry up hubby and come home so we can go to the bank and find out why they are doing this to us after all those years. Sure we get extra $$$$$ left over from the extra payments we got from the bank for paying more than what the estimated taxes, etc.

Four car loans, nothing was mentioned about being deliquent or bring it to our attention after all those years and we just got another loan for a new motorcycle and nothing was being said.

Scratching head. I'm stuck on being ****** and mad at the same time. But yet, I want to be understanding if it is MY fault but why haven't they bring it to our attention after all those years?????

We simply can not afford to make another mortgage payment until next month which I will use my daughters SS to pay it off if we DO owe on it. Thank goodness, she does not have school (that is what most of her SS check will go to her private schooling).

Just digusted!