Complain about a product or service

Regions Mortgage

Mark of Church Hill TN (01/04/07)
Regions Bank consistently posts extra (apply to principle only) payments incorrectly. By consistently, I mean every time I have made an extra payment. Extra (apply to principle only) payments are noted as such on the line provided for on the payment coupon, and marked as such on the seperate check, which is mailed with the regular check and payment coupon. The payments have always been received on time or before. They have cashed the principle-only check for less than the face amount, or applied the principle-only payment to the next months' regular mortgage payment (most usual) and posted the principle payment (received and cashed same day as regular payment) as if paid following the next months' regular payment.

The first instance has never been corrected, costing me a few hundred in interest over the last 3 years. After that, I have learned to call after I make a principle only payment. Usually they correct the mis-applied payment within a week. Sometimes, it is mis-applied again, necessitating another call. If I did not keep close track of the online 'history', this would have cost me thousands of dollars in unearned interest and PMI. I'm tired of doing their bookkeeping for them!

Terri of Violet LA (11/06/06)
My house was destroyed by hurricane katrina, we lost everything. my mortgage co let us hold off on payments for 15 months, now they are demanding a payment for 16,000.00 that they are calling overdue in 30 days or they may start foreclouser procedings. I tried to explain that i don't have that amount of money to pay them, so mrs taylor said she will see about adding the overdue amt back into the loan, but our notes will go up. my mortgge payment is 1100.00 a month. i can not afford to pay a higher note due to we lost our jobs and i am makeing alot less money now. i asked mrs taylor to hold off until i find out from the LRA what my options are and if they will help with my mortgage, i explained to her that LRA may offer to pay on loan and ask them to accept less a pay off since the house and property are not worth what it was before the hurricane. mrs taylor said if LRA would call that the answer to the pay off would be no. i do not know what to do or where to turn.

Christian of Madison AL (01/26/01)
When I purchased my home, I paid 10%, and had a written agreement with the mortgage company that they would release the PMI (about a $60 per month charge) when I paid another 10% down when I sold another property. Once the other property was sold, I delivered the check for the other 10% to the mortgage company. This check was held for one month before it was cashed. It then took over two months and dozens of complaints and phone calls to the mortgage company before the PMI was released. The mortgage company representatives, especially Karen Childress at the Montgomery office, were unhelpful, rude, and evasive. They also attempted to add extra charges for the re-cast. These were hidden charges, since they were not stated in my written agreement. I have never had a more stressful experience in dealing with a company. My mortgage representative, Jane L, also was not very helpful. I will NEVER do business with Regions Mortgage or Bank again.

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