I'm sick of these mortgage companies constantly buying out loans. I bought my house in 2012 and now with the 3rd mortgage company. PNC is the worst. Can't wait till someone else buys this loan out...anyone!
I always made my loan payments online because it's safer for me than mailing a check and having someone steal that check in the mail, or the mortgage company claiming later on that they "did not receive it before the due date", and slap me with a late fee. The bad thing about PNC is if you make a payment on their website, you have to a "convenience fee". So to bypass that, fortunately these morons were at least smart enough to set up bill pay through Bank of America. I can transfer the money right out of my bank account to my mortgage account. But that only covers the normal payments.
A couple weeks ago I got a notice I had an escrow shortage of over $400. If I don't pay the amount due by the next two weeks, my monthly payment goes up by about $35 a month. I don't need my house payment changing so I decided to pay the escrow shortage up front. I forgot to mail in the payment with the coupon. You can't do bill pay because there is no way to designate the payment to escrow, it'll just go straight to the next house payment. I don't want to pay a fee online, it's just a waste of money and I don't believe it's justified, no matter how small. So I called to see if I can do a payment over the phone and have them pull the money out of my account without having to mail in the payment. Of course....there's a $7.00 "convenience fee". Screw that. These people SUCK...they suck money right out of you. In today's digital world, they still make it difficult to make simple online payments. They should be glad people are calling to make payments.
I've decided to refinance my house. The only way I'm going to get a lower interest rate and make the entire process worth the while, is to drop from a 30-yr fixed to a 15-yr fixed. I'll get rid of this stupid loan in half the time and be done with it...something I should have done right up front. As much as I've heard that Bank of America was horrible to it's customers during the mortgage crisis, they were actually great to me when I had my last house. I think I will give them a call, or US Bank, CitiBank, or anyone! PNC stinks. read more