I have a loan with Homeq, and have had a great payment history with them since I originated the loan In feb. 2000. I recently rec'd an interest statement for last year stating the begining balance was $48,830.87 and so was the ending balance. I inquired about this, and was given several ridiculous answers. I have paid several payments in advance, each on separate checks, in the full amounts for each month, and put the month they belong to in the memo section. I did this so as to avoid any confusion about where and when they were to be placed. I was told that by doing this that I am now behind in interest and all of last years payments are to interest only. I must be confused, but how can this be? Would this loan then become a never ending loan? I have not been charged late payments or been told that the payments themselves are late, but that the interest calculated is from when they recived the payments which put me behind? I am utterly dumfounded!!!
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