We just recently refinanced our home this summer 2005 with Option One Mortgage and it has been an utter nightmare. Our payment is due every month of course by the 1st but you are allowed to have it in by the 16th with no late charges. Since we do not have the money to pay at the first of the month I send payment by the second Friday of the month which always falls well before the 16th.
Normally my checks clear literally within two days of the date that I mail my payment out. Also if payment is not recieved by the 1st they mail out a letter to you reminding you that you have not paid them yet.
Well this month my experience was a disaster. I mailed my payment in on Friday the 4th of November and while checking my checking account noticed by mid week that the check had not been cashed yet which I did think was odd, because they normally cash it the second it comes in the door. So I waited, and then started the automated phone calls, some 3 times a day telling me that payment was not recieved yet, this went on until the 11th.
I finally spoke to a customer service rep who then told me to wait until Monday the 14th and if they do not recieve payment by then I could make payment over the phone. I called them on Monday and sure enough the check had not been recieved. I was then told that I could pay a 2.00 fee to pay by phone, and already upset that I would have to spend 20 bucks to stop payment on the check I had already sent them I was angered to say the least. I was then advised that I could make payment on line and no fee would be charged and also that I would not have to stop payment on the check I mailed them because they would notate the system to mail the check back to me and not cash it. Big mistake!!!
I woke up this morning the 16th and checked with my bank and they processed my on line payment on the 15th and miraculously the check I mailed them suddenly appeared only for them to cash it and not mail it back to me. This a huge hit since my mortgage payment monthly is 1734.10 so I obviously was in the negative digits on my bank account, which is now going to cause my outstanding checks with other bills I have outstanding to bounce and incur me many fees.
I then contact the Customer Service Dept at Option One, livid as I was and they not only were not concerned about what they had done to me nor did they apologize for this horrendous inconvenience but they went on to actually say that if I wanted a refund to my account that I would have to provide them with my bank statement showing that they took payment out twice. I was shocked that I would have to do such a thing since I was told by the CSR that they could see that payment was made twice. I then asked for a manager who got on the phone with me only to tell me the same thing and then hung up on me when I told her that I would be writing about them on this web site letting everyone know what a horrible company they are.
Fed up I finally called my bank to have them fax a copy of my private bank statement to this terrible and incompetant company which I think is totally uncalled for and a violation of my privacy, but had no choice as I need my money back in my account ASAP, as I do have other bills that need to be paid other than my mortgage.
I was told I would be reimbursed for all fees that I am charged for any checks that I bounce or for any charges from my bank for going in the negative digits on my checking account, but I cringe at the thought that it may be a nightmare to recover this and I also have to provide them bank statements showing these charges as they happen.
Well that's my story, I hope no one else has to go through what I just went through with them, but I can see I am not the only one who has had issues with this company.
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