I have gone through painstaking efforts to get my mortgage paid on time since Citimortgage bought my mortgage form LaSalle Bank (now called Bank of America).
For years I simply went to LaSalle Bank and paid my mortgage on the 15th or 16th (or the following Monday if the 16 landed on a Saturday or Sunday) since I got paid on the 15th.
Citimortgage informed me that there is no physical location that I can pay my mortgage within 173 miles of my home. I can't mail my mortgage because it must get paid after the 15th, but before the 16th which is the last day I can pay my mortgage on time. For several months I was forced to call in my mortgage for a $20 fee.
In order to stop these $20 fees the Bank of America branch manager helped me set up an account that receives my mortgage payment from my employer's direct deposit on the 15th and automatically wires my mortgage payment to Citimortgage on the 16th. In August, September and October of 2008 my Bank of America account wired my mortgage payment on time, however Citimortgage shows that my payments were received one day late and added a $57. 87 late charge each time.
After meeting several times with the branch manager at Bank of America to establish the exact time that the mortgage payment is wired to Citimortgage, it was determined that my mortgage payment was wired to Citibank before 3AM on the last day I could pay my mortgage in time. However, it turns out that Citimortgage needs time to acknowledge the wire transfer and always receives it one day later. After spending hours talking with Bank of America and Citimortgage customer service no one could come up with a way that I could pay my mortgage on time.
A coworker suggested that my mortgage be direct deposited directly from my employer. I spoke with Citimortgage customer service and they said it is possible to do this and gave me the routing number, citimortgage account number and other required information to do this. This will get the mortgage payment to Citimortgage on the 15th (one day earlier) and hopefully will be acknowledged by Citimortgage on the 16th and on time. My mortgage will be payed this way starting November 15, 2008.
At the request of a Citimortgage customer service representative, I faxed a this information to have the 3 late fees removed. I just got their response today that they will not remove the late fees so I am going to have to cough up another $173. 61 and possibly more if my new method of payment isn't satisfactory to Citimortgage.
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