My mortgage was with Taylor, Bean and Whitaker. It was sold to Bank of America. I tried to make my August payment on Aug 16th, but was told Taylor, Bean couldn't take it. I was told I had to wait until I got a letter from the new holder. I didn't get that letter until Sept. A service rep at Taylor Bean told me not to worry about the late payment affecting my credit as I had 60 days leeway because of the sale. Is this correct? When does the 60 days begin if it is true? From when the loan was tranferred? From when I was notified? Or from when the payment was due?

There should be a transfer of servicing disclosure in your closing document package.  The old servicer & new servicer notify you and during the 60 day notification period, you are supposed to get credit on the date the payment is received by the old servicer not when it gets forwarded to the new servicer.  I am not sure if there will be an exception granted in this case or not.  The August 1st payment is due on August 1st.  After that, it is considered to be late even though a late charge may not have been assessed.  I would probably ask those questions of Bank of America and be sure that both August & September payments are made right away.

You will be fine.  You don't get to "Skip" any payments.  But you should not be shown as late either.

My mortgage was also with Taylor, Bean, and Whitaker and was sold to Bank of America.  We paid our August payment on August 1st to TBW and the check was cashed on August 10th.  TBW has yet to pay BOA our payment and we are getting DAILY harrassing phone calls from BOA's collection department because of it.  We have faxed over copies of the cashed check to prove to BOA that we have paid the August payment, but they still call and harrass us! In addition, we have not gotten a bill for September or October payments; we had to look up the address of where to send payment ourselves so we would  not be late.  I am filing a formal complaint with the comptroller today.  Any other advice?

I am curious to know how many of us are in this situation.  My payments were made to TBW by automatic tranfer from my bank to them.  I made August and September payments via ACH.  I sent BOA copies of my bank statements, but they say this is not enough documentation.    I paid BOA for my August and September payments even though I had already paid TBW, so I am current with BOA, but I want my money back and they don't want to give it to me.  I filed a complaint with the Better Business Bureau.  This caused BOA to contact me.  I spoke a few times with a "customer relations advocate".  But nothing has been resolved.

 

All I received was a packet from BOA saying I needed to pay them.  My August and September payments to TBW were ACH transfers made in July and August.  BOA does not recognize those payments and required me to pay them August and September.  So I paid August and September to both TBW and BOA.  I think this is wrong.  I think I need to be refunded the two extra payments.  Who do I appeal to, to make that happen?

My issue is that I paid twice.  My August and September payments were ACH transfers to TBW.  BOA does not recognize these payments and required me to pay them for August and September.  So I am overpaid by two months.  I would like to get my money back.  Who do I appeal to, to make this happen?

Georgina Davis:

I am curious to know how many of us are in this situation.  My payments were made to TBW by automatic tranfer from my bank to them.  I made August and September payments via ACH.  I sent BOA copies of my bank statements, but they say this is not enough documentation.    I paid BOA for my August and September payments even though I had already paid TBW, so I am current with BOA, but I want my money back and they don't want to give it to me.  I filed a complaint with the Better Business Bureau.  This caused BOA to contact me.  I spoke a few times with a "customer relations advocate".  But nothing has been resolved.

Contact the state banking department in your state.  Tell them what you have posted here.  Believe me, when the state banking department contacts a lender about a complaint from a consumer, that complaint moves to the front of the line.