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PSA: FOR THOSE THAT PAY ON-LINE - DOUBLE CHECK YOUR PAYMENT AMOUNTS

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MrsT
Enjoying wedded bliss.....

Member since 4/06

1323 total posts

Name:
Katrina

PSA: FOR THOSE THAT PAY ON-LINE - DOUBLE CHECK YOUR PAYMENT AMOUNTS

We recently did a refi on a rental property with Homecomings and made the payments for April & May. It's an 80/20 loan. I pay on-line and pay the amount noted rather than use payment coupons.

Today it occured to me that the bill was about $200 higher than I recall from the closing. Sure enough, once I pulled the closing docs I saw that the on-line amount due was WRONG. I have called Homecomings and it will be corrected in a few days.

It seems that whomever input the figures added the 80/20 payments as one payment and then added in the 20% payment as another amount due.

I'm sure the bank would have eventually caught the mistake since they are audited on a regular basis but who knows how many months or years that may have taken.Chat Icon

ETA- the monthly statement was wrong too. The only correct amount was noted on the payment coupons included in the closing docs.

Message edited 5/16/2007 5:56:20 PM.

Posted 5/16/07 1:29 PM
 
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ckone
LIF Adult

Member since 8/06

3014 total posts

Name:

Re: PSA: FOR THOSE THAT PAY ON-LINE - DOUBLE CHECK YOU PAYMENT AMOUNTS

Good to know - thanks for the heads up.

Posted 5/16/07 2:36 PM
 

Jackie24
~We Did it~

Member since 7/06

6718 total posts

Name:
Jackie

Re: PSA: FOR THOSE THAT PAY ON-LINE - DOUBLE CHECK YOUR PAYMENT AMOUNTS

thanks for sharing.....computers and people make mistakes too!

Posted 5/16/07 7:48 PM
 
 

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