I am retired military and from day one I've had allotments from both the Department of Defense and the Veterans Administration that went directly to my account with my mortgage company. We had no problems with the two preceding mortgage companies until August.
In August our mortgage was sold to PCFS. We received a letter telling us not to send any payments until we received a confirmation that our account was active and the new account number. Our due date was on the 16th of the month. We called on the 12th to find out if we would receive the account number in time. We were told not to worry and just pay whenever we get the number. That was on the 23rd of the month.
On the next statement we discovered the first late fee. Since I'm at work all day and do not have the time to waste on the phone with the mortgage companies we added my wife as a contact person to the account. We actually had to fax the information 3 (THREE) times and I had to continually tell the people at PFCS that I wanted her added until they finally had her in their computer.
In November we learned that PCFS had not paid our Home Owners Insurance and the policy had expired several months previously. Luckily nothing happened to our house during this time, otherwise we would have lost everything.
At the beginning of March I received an angry letter from the town demanding property taxes that were due Dec 1st 2003. PCFS was supposed to pay these taxes but it wasn't until after we called them that we had received notice from the town that they paid them. I still don't know if there were any late charges assessed by the town and who paid those, but again it was our fault.
Meanwhile we found out that our monthly payments were not being posted to our mortgage account until the 23rd or 26th of each month. We never figured out how this was possible or why.
Also one payment was posted as a principle only payment while they harassed us with phone calls demanding that particular payment and threatening us with foreclosure. Of course late charges again were added.
PCFS lost our April payment completely. According to PCFS all our payments were late adding a $48 late charge to each payment. As I mentioned earlier I had an allotment with the Department of Defense and the Veterans Administration to send my payments directly to PCFS. Those payments were sent the last day of every month for the following month and yet payment was not posted at PCFS until long after the due date making my payment late and adding another $48 late fee. After the lost payment incident, we stopped the automatic allotment because they said that they weren't receiving the payments on time, and we wanted a better record of our payments.
PCFS called us on a weekly and often daily basis at all hours and harassed us for payments on our mortgage. They caused us tremendous stress and worry by calling us even at work and on our cellular phones.
After talking to many different people at PCFS about the missing payment we were put in contact with Mrs. Loving. She asked us to get a proof of payment from the Department of Defense and the VA. Both supplied us with payment histories stating the dates of money transferred to PCFS. This was not good enough for PCFS. They kept calling in a very mob like collection fashion telling us that we have to bring not only proof that the payment was made, but also proof that this payment actually went through and when it cleared the governments accounts. I contacted The Department of Defense Retirement and the VA again and they guaranteed me that payment was sent to PCFS and gave me a tracking number for proof, which was faxed to Mrs. Loving and later to another person in the pre-foreclosure department. We gave her all the information we had on the missing payment but have never heard anything back from her or PCFS about whether the missing payment was found, and because the DOD says that the payment was sent I am out $1016.00. Since then we are always one month late, because they apply each payment to the previous month.
In early November we again received harassing phone calls from PCFS telling us that they hadn't received a payment since August and that the August payment bounced. The caller also told me that foreclosure proceedings would go into effect at the end of November if payment was not received.in fact, we had set up an electronic check that did not clear our account. When we were contacted again the lady told me that the check bounced, that we should just put the house on the market before they foreclosed on it because we obviously could not afford this house anyway. After fighting with this woman for over 30 minutes she finally had to admit, that she did take down the check information I gave her correctly but on her transaction paper had written the incorrect number making the check come back with the remark Account not found not non sufficient funds.
Just recently I received the new tax bill from the town and again our summer taxes have not been paid.
By now, we have so many negative remarks on our credit report to include 30 days late, 60 days late and pre foreclosure or foreclosure proceedings that it is almost impossible to refinance to another reputable mortgage lender. We are out the $48 late fees that have been adding up for the past year totaling $672.00 plus interest, plus the missing April payment of $1016.00 and the payment that was sent in for that month in the amount of $1400.00 not to mention all the interest.
Today, November 27th we received a letter that once again our mortgage has been transferred to another lender. Hopefully this mortgage company is better managed than PCFS.
I hope very much that this investigation produces enough evidence to close PCFS down for good and retrieve the funds that people have lost and the negative remarks on their credit histories be erased.
Tom
Hooksett, New Hampshire
U.S.A.
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