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Report: #1467142

Complaint Review: Roundpoint Mortgage Servicing Corporation - Charlotte North Carolina

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  • Reported By: Barbara — Oregon United States
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  • Roundpoint Mortgage Servicing Corporation PO Box 19409 Charlotte, North Carolina United States

Roundpoint Mortgage Servicing Corporation RoundPoint Quietly doubled my interest rate, without notice, violating the mortgage terms. Charlotte North Carolina

*Consumer Comment: Roundpoint Mortgage Servicing Corporation - Charlotte North Carolina

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I made a $4000 payment last month.  My required monthly payment is $1954.  Instead of crediting the extra payment amount to the principle balance, they doubled my interest (my interest payment went to $1910.60 - which, obviously, if that were my monthly interest payment, I would never make any progress on this loan, with the escrow), and doubled my escrow contribution.  This receipt says my next payment is due in January, so - what they did is treat this payment as if it were this month's payment, and then next month's payment sent next month.  My contribution to principle was merely doubled, just as if it were two payments a month apart.

This is illegal and violates the terms of the mortgage.  The terms say that there is no prepayment penalty, but effectively doubling my monthly interest rate is a substantial penalty.  I will be seeking legal assistance if they do not correct this immediately, tomorrow.  I am extremely upset by this outright duplicitous practice.

Imagine if I did not carefully inspect my payment receipt - I could proceed in full faith as if my extra payments were having the desired effect, when, really, the only effect they would ever have would be to double my monthly interest rate.  These clowns ought to be investigated.  Who knows how many homeowners out there are currently being taken to the cleaners, and by the time they find out, they'll have no legal recourse.

This report was posted on Ripoff Report on 11/11/2018 12:24 PM and is a permanent record located here: https://www.ripoffreport.com/reports/roundpoint-mortgage-servicing-corporation/charlotte-north-carolina-28219-9409/roundpoint-mortgage-servicing-corporation-roundpoint-quietly-doubled-my-interest-rate-wit-1467142. 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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#1 Consumer Comment

Roundpoint Mortgage Servicing Corporation - Charlotte North Carolina

AUTHOR: Jimmy - (United States)

POSTED: Saturday, November 24, 2018

Roundpoint, bait and switch company.  Buyer beware of doing business, esp with the LO's

Company doen't care to make things right

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