Corner crossing time

[Addicting]

Just a rant…

Today I learned my mortgage company embraces the infinite section of time between 11:59:59 and 12:01:00.

Made me think of Fred and his version of air space.

Apparently you don’t have insurance and must by their insurance if you have a lapse to cover the gap. A policy that ends on the 1st and a new policy that starts on the 2nd is a gap. For that 61 seconds I didn’t have coverage. In that space they are flexing their muscles. I have to buy 48 hours of their coverage for $7.84 annually. Or pay my insurance company to rewrite my policy to have overlapping coverage on the first.

None of this makes sense and no one I’ve talked to besides the call center for Freedom Mortgage thinks it does.

Rant over, I hate big corporate and their greed.

 

[seeth07]

I dealt with the same deal on my home owners insurance a few years ago so I gave them the bird and switched.

 

[Nick87]

That's nice.

 

[Addicting]

I dealt with the same deal on my home owners insurance a few years ago so I gave them the bird and switched.

I am stuck on I can’t leave. I have a 2.25% and can’t refinance to somewhere else without a huge interest rate increase.

 

[rjthehunter]

Interesting... doesn't the 1st last until 11:59:59.99999999?

Just ignore them and return their phone calls on the 2nd!

 

[Addicting]

Interesting... doesn't the 1st last until 11:59:59.99999999?

Just ignore them and return their phone calls on the 2nd!

I can’t, they are adding that cost to my mortgage amount. So that 7.84 is subject to a 2.25 interest rate.

 

[Dave N]

Sounds like bullshit to me.

 

[OpenCountry]

I thought my mortgage company was the only one being awesome lately. They successfully paid my neighbors property taxes out of our escrow for the second year in a row while leaving ours unpaid.

 

[Nick87]

I thought my mortgage company was the only one being awesome lately. They successfully paid my neighbors property taxes out of our escrow for the second year in a row while leaving ours unpaid.

Suddenly I'm thinking I'd like to have a neighbor...like you.

 

[Schaaf]

Generally speaking, the French get no respect from me, but we could learn a thing or two on the correct way to overthrow corporate America. Never forget what our corporate overlords took from us.

 

[Schaaf]

In November of 2022 the electrical utility that I had from 2014-2021 sent me a notice that my account balance of $1.67 was past due by 10 months. I called to figure out how that was possible and they never really answered but I said I could give them my card information for the balance. Then they told me their policy is to not run a card for anything less than $5. I said I would get a check thrown in the mail that day.

I wrote the check for $5 and dropped it in the mail. A week later they called me about my positive balance and asked why I sent a $5 check. I informed her that because I have to pay for checks, my policy is to not write a check for less than $5 and that my policy also states that because I have to drive to a bank to deposit a check I did not accept checks for less than $3.50. They could refund my balance of $3.33 by cash, PayPal, or Venmo. I think I even said I accepted USPS money order since I’m regularly at the post office.

Eventually they mailed me $3.33 in dollar bills and change. From start to finish, this was a 3 week process playing phone tag and snail mail and one of the most enjoyable times of my life.

 

[Addicting]

Read about Freedom Mortgage on the BBB or on the CFPB site. Quite the collection of complaints, fines, and continuing litigation.

Really wish my mortgage wasn’t sold to them. I liked my previous bank.

 

[elkantlers]

In November of 2022 the electrical utility that I had from 2014-2021 sent me a notice that my account balance of $1.67 was past due by 10 months. I called to figure out how that was possible and they never really answered but I said I could give them my card information for the balance. Then they told me their policy is to not run a card for anything less than $5. I said I would get a check thrown in the mail that day.

I wrote the check for $5 and dropped it in the mail. A week later they called me about my positive balance and asked why I sent a $5 check. I informed her that because I have to pay for checks, my policy is to not write a check for less than $5 and that my policy also states that because I have to drive to a bank to deposit a check I did not accept checks for less than $3.50. They could refund my balance of $3.33 by cash, PayPal, or Venmo. I think I even said I accepted USPS money order since I’m regularly at the post office.

Eventually they mailed me $3.33 in dollar bills and change. From start to finish, this was a 3 week process playing phone tag and snail mail and one of the most enjoyable times of my life.

 

[antelopedundee]

View attachment 306971

Except he allegedly accepted and CASHED a check for one cent. Then again if Warren Buffett picked up a cent off of the ground he might just look at it as the start of his next bllion.

 

[antelopedundee]

In November of 2022 the electrical utility that I had from 2014-2021 sent me a notice that my account balance of $1.67 was past due by 10 months. I called to figure out how that was possible and they never really answered but I said I could give them my card information for the balance. Then they told me their policy is to not run a card for anything less than $5. I said I would get a check thrown in the mail that day.

I wrote the check for $5 and dropped it in the mail. A week later they called me about my positive balance and asked why I sent a $5 check. I informed her that because I have to pay for checks, my policy is to not write a check for less than $5 and that my policy also states that because I have to drive to a bank to deposit a check I did not accept checks for less than $3.50. They could refund my balance of $3.33 by cash, PayPal, or Venmo. I think I even said I accepted USPS money order since I’m regularly at the post office.

Eventually they mailed me $3.33 in dollar bills and change. From start to finish, this was a 3 week process playing phone tag and snail mail and one of the most enjoyable times of my life.

Unless you are under a "budget billing plan" you would think that they'd simply credit your next billing with $3.33. Good for you tho.

 

[Schaaf]

Unless you are under a "budget billing plan" you would think that they'd simply credit your next billing with $3.33. Good for you tho.

I had moved to a different town and fell under a different utility overlord so I had an inactive account.

 

[Addicting]

I had to edit the first post. It would seem that the insurance industry is to blame for this. There is actually 60 seconds missing from every new policy written. They have an industry standard to write policies that start at 12:01 AM. You get charged for the whole day but only actually get 23h and 59 minutes of coverage.

As crappy as this Mortgage company is, they are just enforcing the contract I signed. They require 24/7 insurance coverage and unbeknownst to me I only purchased 23:59 of it.

FFS

 

[Addicting]

Dear lord baby Jesus this is confusing.

If you cancel your policy on effective the 1st you’re actually telling the insurance company you don’t want any insurance coverage for the 1st. They end your coverage the 1st at 12:01 AM so you don’t actually have coverage for 23 hours and 59 min on the first.

That is the mortgage company’s and the new agents view. However, not what the previous agent is saying. Their policy expired at 11:59:59 PM on the 1st. Anything that would have happened would have been covered.

Someone is wrong and I am left confused and angry in the middle. So now for craps and giggles I am having them pull the underwriting. The truth will come out but either way I get to pay the Mortgage companies 1 day insurance policy.

 

[antelopedundee]

I had to edit the first post. It would seem that the insurance industry is to blame for this. There is actually 60 seconds missing from every new policy written. They have an industry standard to write policies that start at 12:01 AM. You get charged for the whole day but only actually get 23h and 59 minutes of coverage.

As crappy as this Mortgage company is, they are just enforcing the contract I signed. They require 24/7 insurance coverage and unbeknownst to me I only purchased 23:59 of it.

FFS

How would they ever prove that a covered event occurred during that 60 second interval?

 

[Addicting]

How would they ever prove that a covered event occurred during that 60 second interval?

It would be hard, but not impossible. In a car accident you can just pull the computer and see the exact second of impact.

However, this whole thing is stupid. Getting extra money out of client is the way the world works.

I’m hoping common sense prevails when the complaints are reviewed.