Report: #992893

Complaint Review: Colonial Savings

  • Submitted: Mon, January 07, 2013
  • Updated: Sat, January 12, 2013
  • Reported By: Jayne — Spring Texas United States of America
  • Colonial Savings

    Fort Worth, Texas
    United States of America

Colonial Savings CU Mortgage Colonial Savings is returning my payments. Fort Worth, Texas

*Consumer Comment: You are not alone!

*Consumer Comment: Colonial Savings will not stop!

Show customers why they should trust your business over your competitors...

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.

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#1 Consumer Comment

You are not alone!

AUTHOR: Anna the Seeker of Truth - ()

I think this is absolutely outrageous that any financial institution would promise to help and drop their customer and throw them to the lions, as the saying goes.

I know someone with the same circumstances as you state. There is a pattern and homeowners, like yourself, customers/clients of Colonial Savings, are being treated like this and your homes being pulled from you via 'foreclosure'.

There is more happening than what we see on the surface and it is hard to prove unless the homeowners band together to expose this financial institution for the fraud and/or misrepresentations they are committing and making as well as exposing all those involved with them.


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#2 Consumer Comment

Colonial Savings will not stop!

AUTHOR: just another victim - (United States of America)

I hope this helps someone before Colonial takes away another persons pride and destroys ones worth while taking their home without any notice!

 I tried to get a one month payment pushed or a modification. Colonial refused to give any type of help. They are very rude and  ignored my request. As soon as I made them aware of my need to get the one month payment handled to bring me current the fees for inspections began. Then $30.00 monthly attorney fees. They were charging for two monthly inspections $18.00 (drive by)??..That means all loans one month in default get 2 drive by inspections per month?? Right.......

They added late charges that were different than in my payment booklet.
 I only wanted to pay for my home. Colonial  made it impossible to pay. New fees added were not correct and their amounts were all different.

 I am over 60 years old and have equity and  a few years left to pay my home off..

No one would  default on their home loan in this situation!!.This has been pure h**l and no one should be treated so horribly.I lost hope and fear set in..

Finally, I hired an attorney. My attorney requested my information by mail and by phone.

 Colonial Savings did not respond nor did they send any more mail to me.  Then came the foreclosure letter with the sell date. Time was up. Cease and desist letters didn't work. Colonial was not fair. They can't do this!!!...WRONG!!!  But they did and  it was over. They wanted $4000.00 in less than a month or move.
Faced with being homeless. I was told the only way to stop this insanity was to file chapter 13. Done!

 I am still in my home. BUT...Colonial Savings will NOT stop. UNBELIEVABLE!!!They filed a motion for the judge to deny my bankruptcy and dismiss my case! They will get the money owed plus interest so why would this company continue to  try to put me in the street???,

  Colonial has made sure that I have to struggle to get the payment confirmation set by the judge.
 I don't think the amount of $ owed  is as important as the actual property .. Someone should investigate what Colonial does with all the homes they are taking from people.
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