American Home Mortgage Doesn't credit payments when they are received so they can add on late charges. Irving Texas
Actually, I am not sure if they are in Texas or Florida, since they have both addresses on my payment voucher.
American Mortgage took over our mortgage from Option One 2-3 months ago. I usually make mortgage payments directly on the website, but quickly discovered that American Mortgage charges an unreasonable fee to do this. So, I set up our payment through our bill paying service to reach them on the 14th, which gave us 2 extra days before it would be late. We have used the same bill paying company for more than 15 years and have never had a problem with payments being late, whether they were electronically transmitted or sent by mail. Low and behold .... we just got our statement from American Mortgage and they did not credit our payment until the 19th, and added on a late fee of $117.85.
I spoke to two people (the second one was supposed to be a supervisor). I was told that they will not even discuss the situation with our bill pay service unless my husband is on a 3 way conference call with them. And, "of course they credit the payments the day they are received".
I was told that I could send my payments by overnight mail with tracking. So, any way I try to make this payment, it's going to cost me extra money !!!! If we pay it online, it costs extra ..... if we mail it, they will hold it and charge us a late fee ..... and if I overnight it with tracking, it will cost extra !!! What a rip-off !! And, the sad thing is that they seem to be getting away with it. I just read other reports from people voicing essentially the same problem ... their payments being held so late charges could be assessed.
Is there any way to outwit them at their game, or are we just forced to put up with this month after month ???
Madhatter
Lake Ann, Michigan
U.S.A.
4 Updates & Rebuttals
Nikki
Coconut Creek,Florida,
U.S.A.
Try this.
#5Consumer Comment
Thu, August 28, 2008
Schedule your payment 2 days before the actual due date. Not 2 days before the late fee add date. Don't you have at least 10 days between the actual due date and the date they add late fees? If your mortgage payment is due on the 1st, it sounds like you have 15 days.
Nikki
Coconut Creek,Florida,
U.S.A.
Try this.
#5Consumer Comment
Thu, August 28, 2008
Schedule your payment 2 days before the actual due date. Not 2 days before the late fee add date. Don't you have at least 10 days between the actual due date and the date they add late fees? If your mortgage payment is due on the 1st, it sounds like you have 15 days.
Nikki
Coconut Creek,Florida,
U.S.A.
Try this.
#5Consumer Comment
Thu, August 28, 2008
Schedule your payment 2 days before the actual due date. Not 2 days before the late fee add date. Don't you have at least 10 days between the actual due date and the date they add late fees? If your mortgage payment is due on the 1st, it sounds like you have 15 days.
Nikki
Coconut Creek,Florida,
U.S.A.
Try this.
#5Consumer Comment
Thu, August 28, 2008
Schedule your payment 2 days before the actual due date. Not 2 days before the late fee add date. Don't you have at least 10 days between the actual due date and the date they add late fees? If your mortgage payment is due on the 1st, it sounds like you have 15 days.