On 10/16 we contacted them as they had returned a payment. Their response was the following:
Sent: Tue, 16 Oct 2012 22:01:12 +0000
Mr. xxxxx at this time you are due for September, 2012. We do have $2,079.54 in a holding
account that can be applied to your September payment if you would like to send in an additional $570.69.
As I have explained before, the reason that your partial payments were accepted before, and not now, is because at the time that you were sending in the partial payments, you were current and your payments were going straight to payment processing to be applied to your account, wherein they would send out unequal payment letters, at which time your were asked to remit the difference to bring your loan current; and also expressed the importance of making your scheduled payment.
As time has gone on, and your payments have gone up, (because of insurance or taxes), you are now delinquent, and in collections, and I am the counselor on this loan, so I have advised you that I cannot take partial payments, and that is why the payment was sent back. This last payment you sent in, was processed, because it was a payment - plus, and at that time, I called you and asked you to please call so we could make future arrangements on the delinquent account.
There are several options if you wish to make bi monthly payments, monthly or biweekly payments.
If you are interested, I would like to talk to you about them.
The unapplied fund account where your $2,079.54 is being held, will only be there for a short while and then will be applied to your fees and the rest put into the escrow account, as this account is a place where we put extra funds when you are on a workout plan of some kind. So please take care of this shortage as soon as you can.
When I receive a payment from you, if I can accept it, I will, otherwise, I will try to call you and let you know that you need to call the office to talk about your account.
Senior Loan Counselor
Colonial Savings, FA
2626 West Freeway, Building B
Fort Worth, Texas
We replied by sending them payments in an attempt to catch up. They have sent back all of the payments and now have sent us a letter stating we owe them $9005.09 and now they are threatening foreclosure.
Since 10/16/2012 we have sent them $11390 Colonial Savings has accepted $2660.00 of that amount and returned the rest. Apparently, they have been recently sue by someone else for this preditory lending practice, and yet it has not
stopped. Any assistance you can give on this matter would be helpful.