Countrywide Home Loans ripoff extra charges that don't make sence Dallas Texas
They tried to over charge on our taxes till I found out they were lying. We had got behind in our payments we called to find out the exact amount we need t pay to be current they gave us a amount and we payed it.
The next mounth we had over $90.00 in late fees we called back and got the run around. We payed extra to try to get it taken care of. When we bought our house it was at a fix rate we knew the payments could go up because of insurance or taxes.
Our taxes are the same and our insuranse went up $100.00 but since Countrywide bought our loan our payment has gone from $622.53 a mounth to $726.24. Doesn't make since and they can't get a straight answer.
We got tired of the late fees we tried to pay them and they juse put them toward the intrest then took the money from our escrow account to pay the late fees now our escrow account is short.
Don't know what to do no one will help.
Michelle
Miamisburg, Ohio
U.S.A.
1 Updates & Rebuttals
Jennifer
Dallas,Texas,
U.S.A.
Payments you can see a detail history of exactly were that payment is being applied
#2UPDATE EX-employee responds
Mon, June 06, 2005
Michelle, You can always go to www.countrywide.com, log onto your account. Every payment that you send in, you can see a detail history of exactly were that payment is being applied. (interest, principle, escrow account, etc)
Here you can also see a break down of how they come up with the total payment required each month. (500 principle/interest 100 insurance,100 taxes, 100 shortage, etc)
Generally accounts get reviewed to make sure that your escrow balance is on track. If its reviewed and doesn't appear to have enough money to cover your payment for taxes or insurance when they come due (based on current balance, and monthly amount applied to escrow each month) then they will increase your payment each month enough to cover what could be the amount needed to get you on track to have enough in the escrow account by the time the tax or insurance payment comes due. if they didnt' do this, and your escrow account is short, when your taxes come due and your account is 1000 short, you don't wanna have to get a bill to cover that all at once right? its a way to make sure you are on track I hope that helps.