我们９月和贷款公司Ａ close了一个3 months pay option arm. 头三个月的introductory rate 是1.75％， 之后是MTA index + 3.95，change very month.
note 上面写的是“ The interest rate I will pay may change on the 1st day of December, 2006”, “The new rate of interest will become effective on each Interest Rate Change Date”,
我们每个月的payment due date 是１号，比如９月的mortgage 是10/1 due，10月的mortgage 是11/1 due, 11月的mortgage 是12/1 due.
在交过９月份的房贷之后，１０月中旬Ａ公司将我们转给Ｂ公司．我们第二个月的贷款是交给Ｂ公司的，这些都没有问题．可第三个月就不对了，12/1due的payment statement上面写的interest rate 就是8.75%！这样一来interest 活活多出４～５千块！而且这样我们３个月的introductory rate 只给了俩月而已．我们不停的和Ｂ公司打电话，可它们就是不承认这个错误，还硬说它们serviced the loan right according to the note. 后来写信给它们的ＣＥＯ，ＣＥＯ指派一个customer service来respond, 不过结果仍是一样．
昨天我打电话给Ａ公司，went thru my note with A, 连Ａ都说１１月整月的interest rate 都该是 1.75%, 可Ｂ就是不认错．Ａ说整个service 都release了，就跟他们没关系了，如果有问题我们必须自己跟Ｂ去解决．
现在想上来问问各位高人，我们这个case上small claims court可以吗？有胜算吗？可是这个公司不在我们local,不知到是不是要上它的所在地才能告它？
下面是我们写给Ｂ公司CEO的信：
--------------------------------------
Re.: Loan# xxxx – Wrong interest rate applied and payments mis-handled for November Period
Dear xxx:
This is a “qualified written request” under Section 6 of the Real Estate Settlement Procedures Act (RESPA).
We have been very frustrated in the past few weeks in getting B to correct the two errors in our loan.
1. Interest Rage Change: Our 3-month 1.75% ARM mortgage was set up with A on September. 6th. It was transferred to B effective on November 1st, after we had made our first monthly payment to A. The 2nd payment that’s due on Nov. 1st was sent on Oct. 27th to you, as directed by the notice of transfer, electronically and reflected on B’s system as received on Nov. 13th. According to the original Adjustable Rate Note, we should have another month of 1.75% interest rate in November. Then, interest rate will go up on December 1st, 2006 – Not from November 1st.
Mortgage interests are all applied in rear. So the payment due on Dec. 1st should go towards November interest, which should still be 1.75%. However, when we received the payment statement for November period (see attached fax), it shows that the interest for November is based on wrong 8.750% interest rate!
You can see from the attached note, it clearly states that “ The interest rate I will pay may change on the 1st day of December, 2006”, “The new rate of interest will become effective on each Interest Rate Change Date”. But with what B is doing towards our November interest, they are making the 8.75% rate effective since Nov. 1st, 06!
We have refinanced out of B because we are very disappointed in its ability in solving customer issues. We’ve been calling B since then and talked to various customer representatives. We went over our ARM note over with B many times. Nothing helped! This is a very typical ARM note in the mortgage industry and the error should be identified right away. However, no one would clearly admit it. We were given response like “ma'am, you don’t understand”, “the note only says the interest rate will change, it doesn’t say that the interest will not change”, and “what you have is not what I see in my system”. We faxed your customer service a complaint letter. No one gets back to us.
This loan is paid off on Dec. 1st, 2006. We were falsely charged with the higher interest rate in the pay-off amount. How we wish we could go back in time and refinance before Dec. 1st, 2006 to avoid this error. But in fact, that was not possible since the transfer was effective on Nov. 1st. And B system was not properly set up until Nov. 13th and nothing was available regarding the sudden rate jack till later half of November.
2. Principle Reduction: We paid two additional funds for principle reduction on Nov. 21st and Nov. 22nd in the amount of $20,000 and $15,000, respectively. Those are wrongly applied as pay-ahead towards interest. We called 5 times already to have the funds reversed. But it was still not reversed till we refinanced out of B. In fact, it is put as ‘suspend’ fund in our payoff statement. So we are being falsely charged for interest on those ‘suspend’ funds from Nov. 22nd to Dec. 1st.
Now we are writing to you in order to have these issues resolved. We expect a refund for the 8.75% and 1.75% interest difference for the falsely higher November interest. This comes out to $4476.6. We also request a refund for the falsely charged interest for the $35,000 from Nov. 22nd to Dec. 1st. This comes out to $23.9. A total refund we are expecting is in the range of $4500.5.
We understand that under Section 6 of RESPA you are required to acknowledge our request within 20 business days. With this letter, if the case is still not resolved, we do intend to seek for legal help and report this misconduct to FTC, HUD and Better Business Bureau.
Sincerely,
xxxxx
note 上面写的是“ The interest rate I will pay may change on the 1st day of December, 2006”, “The new rate of interest will become effective on each Interest Rate Change Date”,
我们每个月的payment due date 是１号，比如９月的mortgage 是10/1 due，10月的mortgage 是11/1 due, 11月的mortgage 是12/1 due.
在交过９月份的房贷之后，１０月中旬Ａ公司将我们转给Ｂ公司．我们第二个月的贷款是交给Ｂ公司的，这些都没有问题．可第三个月就不对了，12/1due的payment statement上面写的interest rate 就是8.75%！这样一来interest 活活多出４～５千块！而且这样我们３个月的introductory rate 只给了俩月而已．我们不停的和Ｂ公司打电话，可它们就是不承认这个错误，还硬说它们serviced the loan right according to the note. 后来写信给它们的ＣＥＯ，ＣＥＯ指派一个customer service来respond, 不过结果仍是一样．
昨天我打电话给Ａ公司，went thru my note with A, 连Ａ都说１１月整月的interest rate 都该是 1.75%, 可Ｂ就是不认错．Ａ说整个service 都release了，就跟他们没关系了，如果有问题我们必须自己跟Ｂ去解决．
现在想上来问问各位高人，我们这个case上small claims court可以吗？有胜算吗？可是这个公司不在我们local,不知到是不是要上它的所在地才能告它？
下面是我们写给Ｂ公司CEO的信：
--------------------------------------
Re.: Loan# xxxx – Wrong interest rate applied and payments mis-handled for November Period
Dear xxx:
This is a “qualified written request” under Section 6 of the Real Estate Settlement Procedures Act (RESPA).
We have been very frustrated in the past few weeks in getting B to correct the two errors in our loan.
1. Interest Rage Change: Our 3-month 1.75% ARM mortgage was set up with A on September. 6th. It was transferred to B effective on November 1st, after we had made our first monthly payment to A. The 2nd payment that’s due on Nov. 1st was sent on Oct. 27th to you, as directed by the notice of transfer, electronically and reflected on B’s system as received on Nov. 13th. According to the original Adjustable Rate Note, we should have another month of 1.75% interest rate in November. Then, interest rate will go up on December 1st, 2006 – Not from November 1st.
Mortgage interests are all applied in rear. So the payment due on Dec. 1st should go towards November interest, which should still be 1.75%. However, when we received the payment statement for November period (see attached fax), it shows that the interest for November is based on wrong 8.750% interest rate!
You can see from the attached note, it clearly states that “ The interest rate I will pay may change on the 1st day of December, 2006”, “The new rate of interest will become effective on each Interest Rate Change Date”. But with what B is doing towards our November interest, they are making the 8.75% rate effective since Nov. 1st, 06!
We have refinanced out of B because we are very disappointed in its ability in solving customer issues. We’ve been calling B since then and talked to various customer representatives. We went over our ARM note over with B many times. Nothing helped! This is a very typical ARM note in the mortgage industry and the error should be identified right away. However, no one would clearly admit it. We were given response like “ma'am, you don’t understand”, “the note only says the interest rate will change, it doesn’t say that the interest will not change”, and “what you have is not what I see in my system”. We faxed your customer service a complaint letter. No one gets back to us.
This loan is paid off on Dec. 1st, 2006. We were falsely charged with the higher interest rate in the pay-off amount. How we wish we could go back in time and refinance before Dec. 1st, 2006 to avoid this error. But in fact, that was not possible since the transfer was effective on Nov. 1st. And B system was not properly set up until Nov. 13th and nothing was available regarding the sudden rate jack till later half of November.
2. Principle Reduction: We paid two additional funds for principle reduction on Nov. 21st and Nov. 22nd in the amount of $20,000 and $15,000, respectively. Those are wrongly applied as pay-ahead towards interest. We called 5 times already to have the funds reversed. But it was still not reversed till we refinanced out of B. In fact, it is put as ‘suspend’ fund in our payoff statement. So we are being falsely charged for interest on those ‘suspend’ funds from Nov. 22nd to Dec. 1st.
Now we are writing to you in order to have these issues resolved. We expect a refund for the 8.75% and 1.75% interest difference for the falsely higher November interest. This comes out to $4476.6. We also request a refund for the falsely charged interest for the $35,000 from Nov. 22nd to Dec. 1st. This comes out to $23.9. A total refund we are expecting is in the range of $4500.5.
We understand that under Section 6 of RESPA you are required to acknowledge our request within 20 business days. With this letter, if the case is still not resolved, we do intend to seek for legal help and report this misconduct to FTC, HUD and Better Business Bureau.
Sincerely,
xxxxx
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