UnThreaded | Threaded | Whole Thread (35) | Ignore Thread Prev | Next
Author: dsemmler Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308519  
Subject: Re: Online Bill Payment Services Date: 8/14/2003 2:50 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
blkmagwom,

The main reason why I decided to do auto debit is because my parents had paid on-time 28 years of their 30 year mortgage and they missed one payment for some reason (they got busy or something). 2 weeks later, they got a letter from the bank saying the bank wanted to foreclose. My parents were ticked because they knew that they had so much equity in the house (and it had appreciated DRAMATICALLY over 28 years). So the bank would have gotten a GREAT deal on the house.

That sounds very fishy to me and appears as if the bank was trying to prey on an older (I have no idea how old they were but made an assumption) couple that might just sit idle and think that was the penalty for one late payment.

I sincerely hope that they no longer do any business with this bank and have taken their money elsewhere! I can understand why you have some apprehension.

dt
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (35) | Ignore Thread Prev | Next

Announcements

TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement