I have lived in my first home for just over four years now and my mortgage was sold by Aurora to Midland Mortgage in June. I have just come out of bankruptcy due to poor financial decisons and poor money management. My house was not listed as a part of the bankruptcy. Prior to receiving my "discharge" I was notified of the sale of the mortgage.
I paid my first payment to Midland for July at the end of June. I have paid it ontime every month since. I received a phone call from Midland Mortgage this past Saturday to call them. They, of course, were closed but I listed to the prompts. I was "informed" that I owed them over $176.00 in late fees. I mailed my last house payment via USPS 3 day delivery with signature confirmation. They received my payment at their facility on 11/14/05 yet it has not cleared my bank yet (today is the 17th).
I have researched it and all of my checks have cleared the bank 7-10 days after the 16th of each month.
I am very concerned. I want to know how can the consumer be impowered to prevent Mortgage companies from selling mortgages? Good luck to those of us who are being victimized by corporate America.
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