Mortgage number 57314
I sold my property on Jan 29th, 2004. I received my
statement of my Mortgage account number 57314 from my
lawyer.
The statement shows number of charges as follows
1. Accrued Interest $ 47.31
2. Late Interest $ 03.18
3. Bonus Interest $ 1729.39
4. Administration Fee $ 150.00
5.Electronic Registration
Fee $ 70.70
6. Other Charges $ 200.00
Total $ 2200.58
Prior to conclusion of our sale my self and my husband
spoke to your agents several times. There is no reply to our emails.
First time when we called, we were told that in case
we open second mortgage with them, they will consider
waiving it / reducing it. However, we already complied
with their requirements (however strange it may be) and
we gave them the second mortgage number since we have
already one more mortgage with them.
Then they have come out with yet another requirement
that we need to have 20% equity in the property being
sold. This weird requirement they have put forth
-knowing well that we have 5% equity only. This
requirement does not make any sense except to grab our
money on one pretext or another.
Initially their mortgage specialist (!) told that the
amount of penalty was 1530/-; In two days it was
jacked to 1729/- for no reason.
Whenever there was late payment they have already taken
extra money (plus $25 or $30) each time. Again they are
looting further at the time of closure also
When we questioned the reason for $200 grab in the
name of Other charges their mortgage specialist told
that we are going to another mortgage company and
hence. When we have pointed it is a distress sale and
not switching over to any other bank dumb silence
was the answer from their Mortgage Looting specialist.
$150/- in the name of administration fee is uncalled
for; already they have taken interest and charged us
initially when we gave the account.
They are treating themselves with Bonus interest of 1729/ - at our cost.
Subsequently we wrote number of emails for which their is no written reply at all. All our efforts in making them to realize went in vain. We are defintely cheated few hundered if not about thousand dollars.
Meya
Scarborough, Ontario
Canada
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