I tend to pay my Well Fargo mortgage bill when received or at a minimum a few weeks early, and I’ve noticed that the next due notice often comes within days after I make my payment, even if it’s made early, but I really wasn’t tracking the due dates and the month invoiced as I figured if it’s due it’s due, and paid the bill. I just checked my mortgage invoice due date and apparently I’ve had a bill for July’s mortgage stuck on my fridge for 2 weeks now! These quick invoicing bastards have gradually spun me into almost 2 months worth of advance payments.
You would think that it would be easier to send out all mortgage statements on the 15th or whatever, not rigged to send out a statement whenever a payment is received.
I have Wells Fargo too, and I always like to pay my bill in person so I get the receipt in my hand the same day. Every. single. month I stand in line and wait while tellers chit-chat with each other and generally look non-busy while a line of customers stands in the lobby hoping to be helped. And every month they ask me why I don’t bank with them and I tell them it is because my credit union actually provides customer service in less than half an hour.
Color me not surprised. I’ve had so many awful experiences with Wells Fargo I can’t begin to recount them. The best was the savings account they “misplaced” for a week and a half while I busied myself talking down roommates to whom I owed money. Just a miserable, miserable institution.
I’m also a bit ahead on my Wells Fargo mortgage for the same reason. At least now if something happens, I’ve got a little bit of padding before I have to make a mortgage payment. Of course, this really screws things up when they do their escrow adjustment calculations. And who knows what will happen when my rate is scheduled to adjust.
I’m with them too - not by choice, my mortgage got sold three times in the first two months I had it. I pay automatically and don’t ever worry about anything. No problems so far; they’re supposed to take out on the first of the month and always do it within a few days.
Not necessarily. In many arrangements, you have to select an option to pay down excess principal. If you simply make another payment without selecting to pay off the principal, the extra payment just pushes the next payment back another month and amortizes the loan according to the schedule. Unless you specifically say so, extra payments are applied how the bank wants them to be applied.
Those rat bastards will try to suck every last penny out of you, even past your death. You think I’m kidding? I got a “bill” last year from them for a “past due payment” on a credit card I closed out years ago. I sent them a nastygram back telling them to stick it where the sun don’t shine.
Tripler
If it were up to me, I’d tell everyone to boycott that bank.
Odd situation. Never had that happen ourselves and we’ve had Wells Fargo mortgages for 10ish years (used to be Prudential, they got bought by NorWest, then by Wells Fargo, IIRC). Then again, we have our payments automatically drafted each month, so we don’t get monthy bills / statements. We do receive electronic bill notification just a couple of days after the monthly statement is processed.
If you look at the due date on that bill on the fridge, is it due July 1? or are they trying to move up your payment due date also?
Pardon the hijack, but have you by any chance gotten one of those “whoops your identifying info was on a stolen computer so monitor your credit reports” notices? We did.
I thought that I had my mortgage and home equity loan paid up several months in advance. See, I’m forgetful, so I wanted to have a cushion in case I forgot to pay the mortgage or equity loan payment.
Well, last month, I forgot. Towards the end of the month, I remembered, but thought everything would be fine because of those additional payments I had made. It’s my fault, really-- I should have read the fine print on the home equity loan. The morgtage was fine, but the home equity loan was considered overdue. Those additional payments had gone right into principal and didn’t “count” towards the next payment.
No, what they’re doing is (it appears) essentially mailing me a bill for the next month due instantly when they receive a payment. So by paying 2-3 bills on receipt I now (as of 2 weeks ago) have a bill for a payment that doesn’t have to be sent in till 07/01-07/15.