Each month I promptly send in my mortgage payment via electronic transfers. The bank making the payments has verified with, Chase, the mortgage company that the funds are being received on time. So we know they are not late. Chase acknowledges this. In each of my payments I include additional funds designated for principle reduction and I have been paying this way for 4 years. Chase has always applied the payments correctly, at least up until recently. Now all my payments are posted into a 'suspense' fund and not applied to my monthly mortgage payment. After three months of not posting my payments to the mortgage, they began sending collection letters in January. On January 2 I received a call asking where my payments are. I told them they have them and I can prove it. I speak to representatives on an almost daily basis and am getting no where. And, I noted that even in November when I sent in the exact payment, it was still placed in 'suspense account'. Has anyone had this problem and how can it be resolved. Snail mail takes too long and I hate the idea of going back to old ways just because of computers and non-humans running a bank.
Read more: My mortgage bank doesn't seem able to apply my payments properly. How do I resolve this?
