I refinanced my house with Fremont Mortgage who sold it to Countrywide. I paid 24 mopnths of payments on-time every month. Set a closing date for June 1st (tomorrow) to close the selling of my house. Although I have made 24 payments (which Countrywide has gladly accepted) they are charging me a $12,000.00 prepayment penalty because they say the loan will not be 24 months old until June 29th (28 more days). Yet they have accepted 24 payments from me. So in actuality, they are making the term 25 months long versus two years which is what my agreement says. Customer service is ducking me and the title company now for 3 days. This is a big scam! It's pretty bad that when the real estate market goes flat they result in ripping people off to make up the difference.
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