This company did basically the same thing to me as one I just read. I refinanced my house two years ago. then my mortgage was sold immediately from bmc mortgage to Option One Mortgage. then the next month sold to American servicing company. They said I had no insurance on it that they could verify so put 1,500 per month on it charged for the whole year even though they didn't get the loan until the end of March 2005. then charged 1,300 on it the following year.
They constantly put late charges of 42.00 on even though the check would be mailed out before the cut off date of the 16th.
I am right now very upset with this company and feel like they are still trying to rip me off. I was on a variable rate after two years american servicing was going to put me at a 12 percent interest. I refinanced through a different well known company. I constantly called american servicing to get them to take off the pre payment penalty on my payoff.. they kept telling me they would do so. the lead person said I don't know why it hasn't fallen off yet I'll send and urgent message in to the pre payment group here and have them take it off and and send an updated one to first american title.. they still have not done so. they said yes we see on your deed of trust it says that the pre payment penalty is to come off on March 25th 2007. Im supposed to be closing here saving my house for my kids and I.. and they are trying to rip me off of 3,600 dollars.. oh and charged me another 42.00 late fee for march payment even though I sent it in us mail on the 13th it was delivered there on the 14th.. they didn't cash it until the 21st then said I was late..
This company I will never use again in my opinion with what I have had to go through with them and option one I will never ever get a mortgage or any other loan through them. People should be warned. I do not appreciate being ripped off 3,600. It was hard enough for me being a single mom with children to save this house and refinance at a lower rate with a different company. what is wrong with this world???