Mortgage -- Trouble during payment process -- Complaint #4365112

Complaint Overview

Complaint ID: 4365112

Company: Planet Home Lending, LLC

Product: Mortgage

Sub-Product: FHA mortgage

Issue: Trouble during payment process

State: Indiana

ZIP Code: 46815

Date Received: 2021-05-10T12:00:00-05:00

Date Sent to Company: 2021-05-10T12:00:00-05:00

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Consumer Narrative

immediately after closing on our house, our mortgage was sold to a mortgage servicer ( Planet Home Lending, ) a year into paying our mortgage, PHL sent a letter w/ the mortgage statement saying that we needed to pay {$340.00} more than our mortgage payment because our escrow was short. We paid it & then the next month, we got the same letter w/ the statement asking for another {$340.00} for the same reason, we paid it. The next month the letter w/ the statement asked for {$290.00} over our normal payment. We paid it. The month after that, we received a letter stating that our new monthly payment would be {$1300.00} as opposed to our payment we normally paid which was {$1200.00}. Being that I was a XXXX XXXX XXXX myself, I caught the error, I could tell that when they were estimating the taxes, they looked at the previous year. The previous year the house was owned by an investor so the taxes were over double what we pay with our homestead exemption. I called them and spoke to customer service and explained what I believed had happened as well as sending them the actual tax bill for the current year showing much less than what their letter stated the taxes would be & they told me they would do an escrow analysis & get back to me. The responded that their analysis showed that they were correct & we would have to pay {$1300.00} from then on. Even though I still knew they were wrong, we went ahead and paid what they asked because we didn't have time to fight them over it. After over paying our mortgage for over a year, I finally had enough & I went through and created a spreadsheet showing their statements, our payments, the escrows etc ... my spreadsheet showed very clearly they were over charging. I sent it to the VP of finance. Within a month she sent us a letter stating : " At this time we are reviewing the loan to ensure a thorough response, upon completion of our research, we will respond to your inquiry within any timelines required by applicable law or regulation. '' That letter was dated XX/XX/XXXX and today is XX/XX/XXXX and we still have not heard from anyone. They did however drop our mortgage payment back down to where it originated and actually {$3.00} less, yet they follow that up by saying we'll have to pay {$45.00} more the month after that. Still no explanation, apology or reimbursement for the {$980.00} they over charged for the 1st 3 months they miscalculated our taxes/escrow or the {$84.00} a month they over charged for over a year. I tried to contact the VP that wrote the letter saying she'd look into it, she said I would have to contact customer service & customer service refused to speak to me. I tried calling them 3 times today & each time after being on hold for a while their end hung up on me. I have the spreadsheet, their letter and all our mortgage statements and escrow information available if you'd like to seem them. Thank you for your time.

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