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MORTGAGE LENDER (MIS)USE OF MANPOWER?

Is my mortgage lender guilty of misuse of manpower?

I just received a Saturday morning telephone call from GreenPoint Mortgage wondering why my mortgage payment was late. I asked when it was due and of course was told that it is due the 1st of the month and I have a "grace period" until the 15th of the month.

I realize that if I get the money to the lender on the 1st of the month or the 15th of the month there is no difference. I get no gold star for getting it to the bank before the 15th. In fact the amount of interest I am charged is no different whether I get the money to the bank before the 1st or after the 1st of each month. It is a 15 year amortizing mortgage and in 10 years I have never been late (past the 15th).

So why is GreenPoint Mortgage having precious personnel calling me instead of using that manpower to deal with people actually late on their mortgages or needing and waiting endless months for modifications?

Grrrrr!

Be sure to contact your own attorney for your state laws, and always consult your own attorney on any legal decision you need to make. This article is for information purposes and is not specific advice to any one reader.

Richard Zaretsky, Esq., RICHARD P. ZARETSKY P.A. ATTORNEYS AT LAW, 1655 PALM BEACH LAKES BLVD, SUITE 900, WEST PALM BEACH, FLORIDA 33401, PHONE 561 689 6660

RPZ99@Florida-Counsel.com - FLORIDA BAR BOARD CERTIFIED IN REAL ESTATE LAW - We assist Brokers and Sellers with Short Sales and Modifications and Consult with Brokers and Sellers Nationwide! Shortsales@Florida-Counsel.com New Website www.Florida-Counsel.com.

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Posted by Richard Zaretsky, Florida Real Estate Attorney on 10/10/2009 08:19 AM

Comments (9)

mortgage late fee, short sale attorney, deed in lieu, dil, florida foreclosure defense attorney, florida foreclosure defense lawyer, wpb

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9 Comments on MORTGAGE LENDER (MIS)USE OF MANPOWER?

OCT

Because they are scared of this new study about "Strategic Defaults" and are changing their ways...

http://www.latimes.com/classified/realestate/news/la-fi-harney20-2009sep20,0,2560658.story

Exactly - I wrote about it in WALK AWAY FROM THE PROPERTY - STRATEGIC MORTGAGE DEFAULTS GROW TO 26%

Richard, I have lost all respect for how banks work and are run in this country from the recent state of affairs.

OCT

Richard, I have not had that with the mortgage company but I did with my car loan. Same deal 15 day grace period. I had my previous car loan with the same bank. Paid it off. Got a new car in 2008. Last month in the middle of the grace period I got a call. Needless to say I was hot and not very nice. In 6 years I was never late - this payment is not late - and you are calling me at 8:30 in the morning? It just adds to their portfolio management costs which in turn get passed onto us.

HAHA. I wonder if Green Point is someone who recieved TARP money, that would just be the icing on the cake to me. I have a word for these types of mortgage companies, starts with I ends with S....

OCT

It is just a corporate culture.There are people who se job is to call, so they call. No logic here. As there is little or no logic with many other things corporate

OCT

I have a short sale client who's main reluctance to do the short sale was because his second lien holder was so aggressive in their collection efforts. They continually called his employer if he was even one day late and he was concerned that it would effect his employment status.

I wish they would just as aggressively process short sale requests!

NOV

I used to receive similar calls from Country Wide and used to tell them the same thing.

NOV

Well, it was the 9th and they did it again.

This time when I complained that I was in the grace period the lender's agent said, "Listen, we can do this the easy way or the hard way" !!!!!!!!

I just hung up, but next time (December 8th?) I will be prepard with "this call is going to be recorded" and see what he says and tell him to stop harrassing me while actually recording the call (thank you Google Voice!).

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