Changing Mortgage Closing Terms

[asylum23]

What is the name of your state? Nevada

Last year Countrywide bought our loan from another company. In our closing documents, Section 5, it explains the Annual Maintenance Fee. It states it is $100 per year, unless two conditions are met, then it is waived. The conditions are maintaining a minimum balance and not making any late payments, both of which we met.

At the 1 year point Countrywide just went ahead and withdrew the $100, disregarding the whole term of "waived". I have spoken to them on the phone, emailed them and sent a qualified written request. They have refused to refund the $100 and mailed me a copy of my documents, which have the whole waived line on there, but did not explain how they are able to get away with still taking it.

Anyway, I would like to know who you can complain to about this? I know that mortgage companies can not change the closing terms on the original documents, which is what they have done. Is there an organization who enforces these rules?

[Ohiogal]

Originally Posted by asylum23

What is the name of your state? Nevada

Last year Countrywide bought our loan from another company. In our closing documents, Section 5, it explains the Annual Maintenance Fee. It states it is $100 per year, unless two conditions are met, then it is waived. The conditions are maintaining a minimum balance and not making any late payments, both of which we met.

At the 1 year point Countrywide just went ahead and withdrew the $100, disregarding the whole term of "waived". I have spoken to them on the phone, emailed them and sent a qualified written request. They have refused to refund the $100 and mailed me a copy of my documents, which have the whole waived line on there, but did not explain how they are able to get away with still taking it.

Anyway, I would like to know who you can complain to about this? I know that mortgage companies can not change the closing terms on the original documents, which is what they have done. Is there an organization who enforces these rules?

Were any of your payments posted late? In other words do they show them posting AFTER the due date even if you mailed them before the due date?

[moburkes]

And a payment made within a grace period is stilll considered late.

[asylum23]

Hello, no they never were. I have the auto deduct, which they take on the day it's due. But I asked them about that and they did not have any as late. And the min. daily balance I had to have in there, I'm over that by $26,000.