HSBC Watch News Release Forum Index
Forum Name: - Mortgages
Topic Title: Payment due every 30 days - scheme or scam
Mon Mar 21, 2005 3:50 pm
I had a 2nd mortgage with Household and I would make my payment on the 5th of each month and my payments were not due until the 14th. Every payment was made before the 14th. Most months however, I noticed that my payments were being treated as late payments. I finally called and they said that per the contract payments were due every 30 days and that if a payment reached them by the 10th one month the next payment was due 30 days from that day not from my actual due date in the contract and so being that some months had more than 30 days I would have had to pay twice in a month to keep up.
They said it would eventually even out over the 30 years to be able to pay off the loan. I read the entire contract from cover to cover and nowhere did it say I had to pay every 30 days it only said the payments would be due by the 14th of each month. I was charged more than I should have been and will never use Household again.
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