Report: #1510314

Complaint Review: Iberia Bank - Sarasota Florida

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  • Reported By: Gregg — Sarasota United States
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  • Iberia Bank Sarasota, Florida United States

Iberia Bank (soon to merge with First Horizon) Misapplying mortgage payments Sarasota Florida

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I had a mortgage with these people, but decided that I wanted to make extra principle payments only in addition to the normal payment. I contacted them to find the best way to do this and I followed their procedure. However, later I noticed that when the extra payment was applied, their employees would misapply it to interst, principle & escrow rather than just applying it to the principle amount. I contacxted them and they corrected it. Then the following month, same thing. They kept doing this every month. Then I looked back further in the history and saw that they had done this prior to me discovering their stupidy. When they use a computer to apply my extra payment (made on the 20th of the month), wouldn't they notice that the regular payment was already mae? Or maybe it would occur to them if the computer didn't asses me late fees for this late payment? But NO, their highly paid, professional money handlers couldn't tell the difference between a normal payment and an extra principle payment (round $ amount, not a normal payment amount).

To make amtters worse, when I sold the home and paid off the mortgage, these wonderful people charged me almost $2,000 in legal fees with no explanation, no invoice or statement or any acknlowedgement of what it was for. PLEASE be careful doing business with this bank. If their people can't handle money properly, should you trust them? 

This report was posted on Ripoff Report on 07/24/2021 06:07 AM and is a permanent record located here: https://www.ripoffreport.com/report/iberia-bank/sarasota-florida-soon-merge-1510314. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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