My husband and I have been caught up in a frustrating battle with our Mortgage Servicer since 2020, and we thought it was finally resolved after two years in court. But alas, in January 2024, the errors on our statements resurfaced.Essentially, our servicer keeps applying our payments in the wrong categories, making it appear as if we’ve short-paid one month when we haven’t. Then they slap on a late charge, deducting it from our next month’s payment, causing a cycle of errors. It’s a classic case of “wash and repeat.”You might think it’s a simple accounting error, easily rectified with a phone call. But oh boy, it’s far from that. This is just one of the many games played in the mortgage servicing industry. They may sound like they’re there to help homeowners, but in reality, they work for the lender or trust holding your mortgage.They profit not only from interest but also by finding ways to assess fees to your account. And trust me, they’re relentless. From outrageous insurance policies to mishandling escrow payments, they have plenty of tricks up their sleeves to milk homeowners dry.And the worst part? They count on homeowners being clueless about where to seek help or which lawyer to hire, if they can even afford one. Every month, the past due balance balloons, pushing homeowners further into debtHaving been through this nightmare myself, I know the feelings of desperation, frustration, and hopelessness all too well. So if I can lend a hand, steer someone in the right direction, or simply share my experiences, please don’t hesitate to reach out.
Majeed Ekbal's Daily Blog 