Summary
The user is being charged an unknown fee by their mortgage holder, Southern Finance. Despite attempts to resolve the issue, the mortgage holder has not provided a clear explanation for the fee. The fee appears to be combined with the escrow on the users receipt, which typically covers land taxes and home insurance. The user has consulted with the manager but the issue remains unresolved.Full Conversation
My mortgage holder is charging an unknown fee each month
Have you contacted your mortgage holder to inquire about this unknown fee?
Yes they cant explain
What state are you located in, ****? Different states have different laws regarding mortgage fees.
Tennessee
What is the name of your mortgage holder? In Tennessee, lenders must provide a clear explanation of all fees. If they fail to do so, you may have legal recourse.
Southern finance
What is the amount of the unknown fee that Southern Finance is charging you each month? In Tennessee, lenders are required to provide a clear explanation of all fees.
*
*.*
What is the nature of your mortgage agreement with Southern Finance?
Paying off a loan for a funeral and some home improvements
What type of mortgage do you have with Southern Finance?
? Dont understand
There are different types of mortgages like fixed-rate, adjustable-rate, etc. Could you specify which one you have with Southern Finance?
Adjustable
What is the term of your adjustable-rate mortgage with Southern Finance?
6yrs
What is the interest rate on your adjustable-rate mortgage with Southern Finance?
*.*%
What is the duration and frequency of this unknown fee being charged by Southern Finance?
14yrs
What steps have you taken so far to resolve this issue with Southern Finance?
Tried to talk to them they cant explain and dont care
What documentation do you have regarding this unknown fee? In Tennessee, lenders are required to provide a clear explanation of all fees. If they fail to do so, you may have legal recourse.
Receipts
What information is provided on these receipts regarding the unknown fee?
It is combined with escrow on reciept
What does the escrow portion of your receipt typically cover?
Land taxes and home insurance
What is the usual amount for your land taxes and home insurance, and does it match with the escrow amount on the receipt?
*.* most of the time i pay *.*
What is the difference between the usual amount for your land taxes and home insurance and the escrow amount on the receipt?
*.*
What steps have you taken to dispute this fee with Southern Finance?
Talked with manager
Consulted with manager
What was the outcome of your consultation with the manager?
TRY ME!
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