- Report: #1268868
Complaint Review: Dovenmuehle Mortgage - Lake Zurich Illinois
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Author Not Confirmed
Why?
Dovenmuehle Mortgage
Lake Zurich, Illinois, USA
Phone:
800-669-4268
Web:
www.dovenmuehle.com
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Business Rating:
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Dovenmuehle Mortgage Dovenmuehle Mortgage, Inc. 1 Corporate Drive Suite 360 Lake Zurich, IL 60047 miss appropriated principal mortgage payment Lake Zurich Illinois
Miss appropriated payments:
We have a mortgage on our house in Utah that we got through Mountain America credit union. It is being processed by Dovenmuehle out of Illinois.
We have been trying to pay down our loan by paying an interest only payment about every other month. Numerous times the payment is not posted to principal even though we have done what both institutions ask us to do by writing on check and marking payment boxes online that state clearly that the extra payment is for principal only. (Our monthly payment is always a timely auto deduct / draft and has never been late.)
Our last payment of $8000 was once again applied wrong. A portion went to principal, interest and escrow. Our home balance at that time after posting it their way was $80,070. After correcting their mistake and posting the $8000 toward principal only, our new balance was $79,442. A difference of $628 (deduct the reversal of escrow account) we still were behind $314 their way.
We have been told that our account has been marked special and we would never see the problem again. That was 3 problems ago..
It's amazing to me that our account : "The Schuremans" have been marked special when they (Dovenmuehle) process over a million home loans a year. It begs the question: How many Americans are being fleeced by this action (non-action).
Can we sue them for this or even instigate a class action suit? There should be some regulation to insure principal payments are just that and protect people like us, who nearing retirement age, need to pay off their homes as effectively as we can.
Please let us know what can be done. We have documentation and tape recordings of conversations with both institutions.
P.s. ..November, now 5 months later and again they have miss appropriated our funds. Two payments one $10,000 and the other $7000. They both got divided up with interest and they didn't accept the auto draft for the two months payments. Help!!!
