Fixed Mortgage Rate but Increased/Fluctuated Mortgage - Seterus

I received a Notice of Intent to Foreclose (“Notice”) in the amount of $3,538.20 and some change. I am mystified because this is an absolute mistake! I do not owe Seterus anything. I have tried to call Seterus on numerous occasions about this and I am constantly put on hold and transferred around to different agents who seem incapable and uninterested to help. Every phone call with them costs me 5-10 minutes of going through “verifying” the same information (as one person puts it) but no agent is able to tell me about the notice. I even had an agent tell me that they do not have a record of an intent to foreclose notice being sent to me.

Per my August 5, 2016 telephone conversation with agent Saviola, I learned that my mortgage payments were increased from $1,273.93 to $1,398.12. Saviola told me that this became effective December 2015 and subsequently, there was also a decrease that became effective May 2016. The decrease was from $1,398.26 to $1,175.62. I was not aware of any of this – i.e., that my mortgage had fluctuated especially, since I have a fixed rate mortgage. When my loan was transferred over from Bank of America to Seterus in November 2012, I was paying the same amount (i.e., $1,273.93), faithfully every month. Saviola further explained that the $3,538.20 is the difference between what I was paying (i.e., $1,273.93) to the current amount ($1,398.26) added up. Although Saviola provided me with some information, the difference between my old mortgage payment and the new payment does not add up to *$3,538.20.

*$1,398.26 (new) – $1,273.93 (old) = $124.33 x 8 months (from December – July) = $994.64 – $3,538.20 = $2,543.56.

When I told Saviola that the difference does not add up to $3,538.20 she became confused; she put me on hold and when she came back all she said was, maybe I missed a payment. When I asked her which payment was missed, she did not know. She was impetuous and basically told me to fax in my bank statements showing all the payments that were made to Seterus, which I have done. I sent them records of my bank statements from November 2012 – July 2016, including a ledge from my bank showing every payment received by Seterus. As well, I emailed the CEO explaining the same attaching my bank statements, etc.

I am utterly disturbed by the notice. Even more so, especially after learning that there are hundreds of consumer complaints against Seterus about the same issue. Consumer Affairs and the Better Business Bureau reported cases of consumers essentially losing their homes because agents are not properly servicing customers; they are being instructed to just get customers off the phone or get their money. What’s frightening about these cases (and mine) is that people go into foreclosure because of misapplied funds, uneducated agents and agents who could care less – who have no idea what it is to even have a mortgage.

I am so distraught by all this. Now, I’m just waiting and praying that I hear back from someone who can clear up this conundrum of mess.

For Seterus Representatives or Owners

Respond To This Complaint Complaint Removal

Comments About Seterus Review: Fixed Mortgage Rate but Increased/Fluctuated Mortgage

Leave a Reply

Be the First to Comment!

Notify of

Follow Us To Receive Complaint Alerts

Get Complaint Alert Emails