Mortgage Company has gotten weird

[anigrrrl2]

So I am just wondering if this type of stuff has happened to anyone else.

I am paying my mortgage outside the bankruptcy payments. It is with PHH and serviced by New Rez - totally a shitty company, but my mortgage was sold there and because of my financial problems, I could not refinance elsewhere. But I’ve never actually had any problems with them - until the bankruptcy filing.

Last month, they sent me a statement that showed I owed twice what my payment is. When I called, they said it was a mistake. I made them put in writing that it was a mistake, and paid my regular monthly payment and all was okay.

this morning I get an email from them saying they applied my $5000 payment to my account. I never made a $5000 payment. I checked my bank account to make sure they hadn’t drained it, and everything was fine.

I am waiting for their offices to open to call, but I’m pretty sure they will tell me it’s another mistake.

I never had these issues before the filing. Is it coincidence they’re suddenly screwing up all over the place, or does this happen in bankruptcy?

thanks!!!

[flashoflight]

When you filed bankruptcy, your lender will probably apply every future payment to suspense and then they will apply to the monthly payment when they feel like it. As long as your contracted payment comes in every month, you need not be concerned about it going to suspense and staying in suspense for weeks or more. Interest per monthly payment on a fixed rate mortgage is pre-determined according to the original amortization table that came with the deed of trust so you're not losing out with the delay from applying suspense. They won't file for relief from stay if you're making your payment per your note. This morning's "payment" was likely to apply suspense to two monthly payments. You don't need to call them or "fix" it. Just keep making your payments. What you believe is a lender screwup is actually normal processing in the bankruptcy department for a mortgage where the debtor goes into bankruptcy. The junk fees they will add to your mortgage later on for filing bankruptcy is an expected normal process as well. You won't be able to challenge or reduce those fees. You'll love the extra $30 monthly property inspection fees which applies even if you were current the minute before you filed bankruptcy. No matter what, your mortgage is in default status merely from filing bankruptcy.

If you really want out of this situation, you need to refinance post-petition to a new FHA mortgage after the 12th month. Refinance may not make sense with mortgage rates still in the 6% range. The refinanced mortgage will have none of the bankruptcy baggage and you will be treated like a normal customer even though you are in the process of making chapter 13 payments.

[anigrrrl2]

Thank you so much, this is great information and advice!

[Carmella]

I remember I got some statements from my mortgage which was always paid on time that looked like I owed more than I did for the payment. I called and they would tell me I only owed the actual payment. They didn't explain why. I didn't question I was just happy to hear I my payment amount was all I owed!