Late Charges

07-02-2005, 10:34 AM

bgunner

Junior Member

Join Date: Jun 2005

Posts: 3

Late Charges

What is the name of your state?New York After my servicing loan company notified me that they had transfered companys I was looking at my loan papers that I signed 11 years ago. I noticed a problem with my last two companys over charging me on late charges. The first 3 companys charged me 4 percent on principle and interest while the last three charged me 4 percent on principle, interest and escrow. I didnt borrow money for my escrow so how can they penalize me on that. I thought late charges were on money you actually borrowed. Any suggestions would be appreciated.

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