My mortgage was sold to out of town bank, now CLC consumer service receiving my payment. I can view my account through etrade so I presume the etrade bank holds my loan. I start of paying my loan plus a little bit toward the principal amount and they stop it. Someone told me to pay above monthly payment and they will use the access amount to pay the principal. I have found out that they have been using the extra money to pay the interest of the loan. Also they will credit the the extra money for a while just sitting there. Now I have paid my interest of my loan up to 08/07 and have a credit balance of $309. Just sitting there. I have tried several time try to get in touch with them and have a problem getting any direct answer. I asked for my Print out of my payment and loan balance. They told me that I am a head so they could not do it. They only would to it if I were behind my payment. It does not make sense. The loan was for 15 years. I feel I should have finished paying the loan by now but It still show a balance of 13390.09. Most loan when you come toward the end of the loan more of the money goes toward the principal and less to the interests. It does not seems to be that way yet. Please help look into this matter. I know if they are doing it to me. I can imagine how many other people are they ripped off. I have been always on time with my payments and I do not mind paying my debt.
Please investigate
Thank you,
Moses Ngiraila
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