I found out that my mortgage was sold to Option One from EastWest Mortgage. This is the second time in less than a year that I have had to deal with this company.
The first time was in March when I bought a house from my father so I could resell it. EastWest sold my mortgage to Option One before my first payment came due. I had the house sold a week after the first mortgage payment was due. I was using the profit from the sale of the first house to move my family into a bigger home. When the people buying my home closed on their mortgage for my house, Option One would not release my payoff statement. They kept stating that they would send it but never did. They would say it was faxed but it never came trough. I finally had to get an attorney involved and even with us threatening a lawsuit they still dragged their feet. I almost couldn't close on my new home because the funds for the new house couldn't be disbursed until Option One turned over the payoff so the closing attorney could payoff the originial loan.
A short while ago I find out that Option One now has my loan on my new house! As soon as I found out I refinaced because there is no way I am going to deal with these people again. Now they are trying to smack a prepayment penalty on the payoff even though it says, word for word, in my closing docs "If I refinance my loan with another financial institution any time DURING the first twelve months after the execution of the Mortgage, I will be charged a prepayment penalty in an amount equal to the payment of ZERO (0%) of the loan balance at the time of payoff" It does not say AFTER the first 12 months it says DURING the first 12 months.
I keep calling trying to speak to someone who speaks English but of course their call center is in India, so I get someone with a thick Indian accent who can't understand me and I can barely understand them. The woman I talked to insists that I am wrong and that the prepayment penalty says AFTER the first 12 months...!
So here we go again!!
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