Mortgage mess-up remains unresolved
WASHINGTON -- My wife and I have had literally stellar credit our entire lives. We have a long and reliable credit history. We purchased a home and got a 15 year FIXED mortgage.
We have religiously paid our mortgage on-time since.
Since the initial loan, our mortgage was purchased by Washington Mutual (WAMU).
We received a telephone call from WAMU’s collection department stating our mortgage was not paid for May 07. … what… yes it was???
Through some investigation we have learned that they determined our escrow was short and they raised our mortgage… get this… TWO YEARS AGO. We were never informed! We were told that every month our payment was short by this small amount that the mortgage was increased. All this time, as far as we knew we paid in full and on-time every month.
Evidently, they have been mailing notices to an incorrect address. NOT the “current” address for us listed on our loan application, NOT the property address where the loan was taken on (application flagged the property will be “PRIMARY RESIDENCE”). Evidently, they have been mailing notices to some other (incorrect) address they found on a credit report!
They have kept adding the late fees until they decided it was time to use our funds paid for May mortgage to late fees, leaving no money to pay the May mortgage, triggering a call to us.
We figured we could simply clear it up… right? NOPE! Their “dispute department” declined all claims by us. They insist that we owe thousands in late fees, and the negative reports to the credit bureau will remain unchanged!!!!!
What to do? They are to the point where they don’t return our calls anymore!
The originally agreed mortgage has been paid on-time every month for the past 4 years without exception. How were we supposed to know they raised the mortgage?? They admittedly didn’t send any information to either address listed on our loan application. They admittedly never called us prior to this.
Now, we are looking at expensive legal fees to clear this up!