ECON NOT ONLY ARE BANKS THIEVES, BUT THEY ARE STUPID, TOO!

[willowlady]

I have spent about three hours now trying to get my bank to acknowledge that we have paid off the loan and want that fact recorded. Spent time on the phone with a person, who told me I'd have to request a payoff statement from the local branch, in person at local branch says I have to request it from the central mortgage dept., the central mortgage department gives me an invalid fax number to send the request OR do it online, which isn't working. Why all this trouble? I sent them online enough $$$ to pay off the loan and halt any further interest, but their stupid computer system can't apply the tiny excess I sent them. So, I have a -0- balance, -0- escrow, -0- principal, and $58 in "suspense". What is so dang difficult for them to figure out how much they need to record the loan closure and send me the documents? I'm beginning the think the whole system is designed to NEVER let an individual off the hook. Or else I've crashed their entire system by having a loan balance that CANNOT generate interest.

Sorry for the rant.

 

[mzkitty]

You think that's bad? Try working for them.




I am sorry they are giving you such a hard time, Willowlady.

 

[Anne in TN]

Did yu hear about the guy who bought his house with cash and BOA (Bank of America) tried to forclose on him? Honest! That really happened.

 

[BigMikeM16]

You have it right, you are never to pay it off. Haven't you heard that's UN-AMERICAN to pay debit off!

 

[Publius]

Try using the words "FRAUD" and "SCAM" and see if it does not get fixed fast.

 

[bw]

Sorry for the rant.

Hey, you'll get as good a hearing here as anywhere. Rant on!

 

[Red Baron]

Willowlady,

Send your request to the home office via certified mail. Mention all the dates and especially the names of the people you talked to.

If you do not get a payoff statement in ten business days go to a lawyer.

This is serious stuff, they are shicksters and you have to protect yourself.

Some manager, somewhere, is trying to keep his balance sheet looking good for the end of the month, they are not stupid, they are crazy like a fox.

 

[Scotto]

Fire off a complaint to the local BBB with the words "Bank Fraud!" and see how fast it gets fixed.

 

[Jerry]

Better yet, look up what ever agency holds their state charter and get whatever info you need. Have a direct conversation with the local bank manager and tell them you will file a complaint with the state agency and the Federal Reserve if you don't have the document by the close of business on the next day. Be sure to include the names of the people you have talked to. You might want to make a call to the President of the Bank's office advising him of impending events and the names of the people involved. Have the brass to actually do it.

 

[vessie]

Red Baron is right on, someone is trying to make they're balance sheet look good for the end of the month. They are definitely a bunch of kinks. V

 

[Troke]

When, oh when, oh when are you people going to realize the incompetency of large organizations; corporations, governments and very large groups? And the incompetency is compounded by members of those orgs operating in the standard CYA mode. And exacerbated by computers. And as the mortgage debacle shows, it is getting worse.

 

[WildDaisy]

I'm beginning the think the whole system is designed to NEVER let an individual off the hook. Or else I've crashed their entire system by having a loan balance that CANNOT generate interest.

Sorry for the rant.

Now you're gettiing it. This is why scripture tells us to not be a lender or a borrower. Too easy for evil to come from it.

 

[Richard]

I have spent about three hours now trying to get my bank to acknowledge that we have paid off the loan and want that fact recorded. Spent time on the phone with a person, who told me I'd have to request a payoff statement from the local branch, in person at local branch says I have to request it from the central mortgage dept., the central mortgage department gives me an invalid fax number to send the request OR do it online, which isn't working. Why all this trouble? I sent them online enough $$$ to pay off the loan and halt any further interest, but their stupid computer system can't apply the tiny excess I sent them. So, I have a -0- balance, -0- escrow, -0- principal, and $58 in "suspense". What is so dang difficult for them to figure out how much they need to record the loan closure and send me the documents? I'm beginning the think the whole system is designed to NEVER let an individual off the hook. Or else I've crashed their entire system by having a loan balance that CANNOT generate interest.

Sorry for the rant.

Inadequate computer system, i know i've worked on them......

can you phone them up to resolve or face to face

 

[OddOne]

When, oh when, oh when are you people going to realize the incompetency of large organizations; corporations, governments and very large groups? And the incompetency is compounded by members of those orgs operating in the standard CYA mode. And exacerbated by computers. And as the mortgage debacle shows, it is getting worse.

This right here. Large organizations work as well as they do despite their incompetence, not because of their size. ("Never ascribe to malice that which is adequately explained by stupidity." - Robert J. Hanlon) This is the same reason I don't buy into government conspiracy theories - the government only runs by the sheer force of will of three plus million people fighting against its own propensity toward self-destruction. When stupidity suddenly wins the balancing act, large orgs tend to almost immediately implode.

 

[ofuzzy1]

Do what Jerry said.

The Bank is required to file a loan/lien satisfaction with the county government.
You can verify that is was done, most have websites.
goog: xyz county clerk of the court records search.
You will be astounded by what is online about you there.

Contact http://www.occ.treas.gov/

Look up the CEO CFO and CIO of the bank send them letters.
Use delivery confirmation mailing labels from paypal on the 5x9 envelopes.
[or get "shipping assistant" program from the post office - free and use your OWN postage]
Select the first class 1 ounce option with delivery confirmation -- beats a certified or reggi letter fee.
Must be in a larger than normal letter or the PO will kick it back.
I use the half fold yellow manila envelopes.

Your letters to the CxOs should mention the following:
We have tried to resolve this issue both on the local and normal corporate channels.
Failure to resolve this in x business days will result in
Resolved includes filing a lien/loan satisfaction with the county clerk.

The mention of the OCC will cause shorts to be soiled at the bank!

Be sure to include the copy of both sides of the final payment.

List the name, time and jist of the conversation with EVERY one you spoke with.

We will contact the State Attorneys office and pursue Mail Fraud against you PERSONALLY. Since we have specifically brought this to your attention.

Additionally the Office of the Comptroller of the Currency has been informed and will investigate your Bank's abhorrent behavior.



Office of the Comptroller of the Currency
Communications Division
Washington, DC 20219
(202) 874-5000
publicaffairs3@occ.treas.gov


Best of luck.

Been there done that.