Bank of America sold my mortgage to a company known for shady practices.

[Sheep221]

Mortgage payments are different. You aren't buying an item that has a retail markup that absorbs the transaction fee. You are transferring money where the transaction fee directly reduces the actual interest the bank earns on their loan to you.

However, $10 is a lot for an online transfer. They do it because they can.

Not long ago I seen mother's payments for our mortgage and there was no fee what so ever, only just required money were transfered.

 

[jaedaliu]

Not long ago I seen mother's payments for our mortgage and there was no fee what so ever, only just required money were transfered.

My mistake. I was referring to credit card fees. I wandered and lost my original point.

Most banks and mortgage servicers don't charge fees for online electronic payments. It's just the smaller ones that aren't fully caught up yet.

 

[alkemyst]

Citimortgage sold my loan to NationStar and I had major problems. None of the payments I was making were being applied to my loan. This went on for years with promises everything would be fixed.

The main issue was they continued to report me deliquent and my credit cards all went from 5-8% rates (two of them were fixed at 5 and 6%) to 24.99%. I had to finance my second degree at college on the two fixed rate cards as they were better rates than the school loans at the time.

My interest payment went from like $200 to over $1700.

I have been in court with them for over a year now.