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Author: OneLostFool Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127237  
Subject: Mortgage Payment Problems Date: 2/25/2013 3:41 PM
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Hello, All.

I hope this is a good board to which I can pose this question; if there's a better board, please let me know. The following's a long story, but the question is at the last paragraph if you'd like to skip ahead...

We've had a mortgage through ING for about 7 years. ING was recently purchased by Capital One, and they have been switching over servers and doing whatever other behind the scenes work occurs when a bank switches hands.

We were unable to make our mortgage payment online during January for the month of February due to said server switching. We called for fear of being late on our payment, and were assured that we had until the 15th of February to make the payment that was due on February 1st without penalty, but that things would be taken care of within a couple of days. After have made a payment that was "unallocated" and then returned by Capital One, we received a call from the collections department, which led to several calls to different areas, and our February payment was finally posted and, we thought, the problem was fixed.

We're now approaching the end of February, again unable to make payments (for March), and now receiving calls and letters about our "past due" payment that was due February 1st. It turns out, they've removed the payment from our mortgage, put it back in "unallocated funds" along with payments that were made toward our March payment, and tacked on the total of these payment to our principle amount.

Can anyone point me towards options available to us when the banks is not crediting our mortgage payments, charging us interest, and adding payments back onto our principle? We're about talked out, the problems aren't getting resolved regardless who we speak to, and we're now getting harassed by their collections department. We're considering legal action if it's not cleared up soon, but don't really have any idea where to start, given we've never had problems before. We've always made payments on time.

Thanks for your ears and suggestions.

OLF
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