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Expat wanderer

Outrageous Mortgage “Servicing”

We have had our most recent mortgage with PHH, thanks to AdventureMan’s hard work, and this morning, my husband is on the phone with their bureaucratic, less-than-helpful customer service agent.

I hate them. I know it is a sin. I hate these practices.

AdventureMan sent them a check with more than enough to pay off the mortgage. When we checked the status online, we still owed a small amount. Then we saw that although the check was clearly marked “principal only,” PHH had applied part of it to another monthly payment, and then the rest to the principal. (Sleaze bag practice to prolong payment periods.)

“You cannot pay off the loan with a personal check,” the customer service representative says.

“You sent the check to the wrong address; that address is for principal only,” she says, and you can tell she is reading off a script.

AdventureMan asks to speak to her supervisor. She says that is not possible.

This is just an outrage. Every day they can postpone the final payment, they get interest from us. When we have sent more than enough money to cover the principal and all the escrow payments, we get this brick wall.

Personal check? They’ve already cashed the personal check! They have the money! This is outrageous!

We had to deal with the company once before, with another mortgage. Their practices are disgusting. God willing, we will never have to deal with them again.

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March 10, 2011 Posted by | Bureaucracy, Customer Service, Financial Issues, Moving | 8 Comments