We have been rounding our monthly Mortgage payment up for the past 6 months on a regular basis, our Mortgage had been bought up by Wells Fargo about a Year ago. I was wondering why I did not see the Principal balance going down on the Mortgage so I was inquiring with WF and was told that due to a past Bankruptcy, 5 years ago - they are applying the additional monies toward a "Corporate Advance".
We are not familiar with that terminology and not able to get a straight answer from WF as to where our money is. Has anyone ever heard of Corporate Advance? What is it? Who gives them the right to take our money? I am thinking that they are putting this in an account and reaping interest like I have read on other complaints (not that we have thousands in there - but it is our money).
Thanks for your help.
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