My mortgage was transferred to Vanderbilt from First Merit Mortgage who provided monthly statements showing the balance of the mortgage as well as the payments made each month. At the the get go things went awry. They would not accept my word that I had my own insurance coverage and took out an insurance policy from there own insurance provider. The next thing is that extra payments were made each month on the mortgage to decrease the principal. These monies started to be put into an escrow account without my knowledge.
When I inquired by phone I was put on hold for long periods of time. At the point when I found someone to talk to me they gave me amounts of monies held in escrow. I had to write a fax to them requesting that those monies should be transferred to decrease the principal. Then I was also told that my next payment was not due for 2 months. This leads me to believe that the mortgage is being handled like a consumer loan and not as a mortgage which makes a big difference.
I was also given a special address to which monies that are to be for extra principal must be mailed. This is suspicious to say the least. I am complying with the information given me by their representative.
They have all my contact information and so I guess there is no problem at this point although the balance I think I should owe is off quite a bit, nearly $300.00.
I must say that I have not been treated with disrespect it is just that I think statements ought to be provided so that I can justify my figures with there figures at any time.
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