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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 127714  
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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Author: CCinOC Big funky green star, 20000 posts Top Recommended Fools Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 124845 of 127714
Subject: Re: Mortgage Payment Problems Date: 2/25/2013 3:48 PM
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Well, you can stop the calls by sending a letter to your servicer as follows:

To Whom It May Concern:

CEASE AND DESIST

Re: Loan No. _________

Pursuant to Section 805 of the Fair Debt Collection Practices Act, this letter is to inform you that you may not communicate with us by telephone at any time. You may communicate with us by U.S. Postal Service only.

Signed,

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Author: ToddTruby Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 124846 of 127714
Subject: Re: Mortgage Payment Problems Date: 2/25/2013 4:27 PM
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Can't you send them a check until the online payment issue is resolved?

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Author: foo1bar Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 124847 of 127714
Subject: Re: Mortgage Payment Problems Date: 2/25/2013 10:00 PM
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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?

1> phone calls
2> ask for manager/supervisor
3> ask for address for your lawyer to send a letter to.
4> Attempt to contact CapOne management
5> Pay a lawyer $100 to send a letter on your behalf to them.

I would be writing physical checks, AND make sure the memo line clearly says what the payment is.
ex.
mortgage acct#32156; payment for March 2013

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