We refinanced our loan through First california Mortgage Company, and told them that we wanted to make accelerated payments (payment plus additional principal). They provided us with a payment schedule for 10 and 15 year pay off. They sold the load to Option One. We made the first payment without receiving a stub - because Option One didn't have their act together. They didn't know what to do with the payment, so we had to tell them. The second payment was distributed correctly.
The third payment they applied part of the additional sum and then put the remainder in a holding account (I check the internet to see how the payments are going). When I called Option One, the CS person said that they needed to set asside funds until they knew they would clear - sounded like they were making it up. The fourth payment was properly distributed.
Now we get to the good one. We made the January payment on December 27. They did the distribution on Dec. 29th. I the first week of January my wife received a call from Option One saying that we had not made our payment. When I checked the internet, they had taken the full amount and applied it to principal. I spoke to the CS rep, and was told that I should wait and it would be corrected. I said that I wanted it corrected now - the rep said OK. Last week (Jan. 12th) we received a letter from Option One saying that we needed to send our January payment in Overnight or Western Union. I called CS again and the rep said that the people processing the checks never look at the form that is sent with it, and that we should call in to pay - I asked for a supervisor. The Supervisor said that it was an error on their part, and that we would still receive another letter, even though he would correct it now. The next day I checked the internet, and they almost got it right - they had shorted us $. 55. I spoke to the supervisor again, and he said he would make the correction - which showed up today.
Some how, dealing with a company who has only gotten it correct 2 of the last 5 times is not comforting - nor a good use of my time. At this point, all I want to do is get out of this loan and find a company that has better Customer Service - or at least a face I can sit in front of.
We have complained to BBB, and I have called and emailed them - no responce from anyone yet.
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