Complaint / review text:
My mortgage was also sold to Carrington from BoA. Went to make my payment with BOA and couldn't. Had no info from Carrington. Found their phone # online and called. The gal was nice enough and said a packet would be forthcoming and no late fees would be assessed for 60 days after the transfer. A month later, I get a letter that my payment is going up $36 a month! After reviewing it with my boyfriend (a former mortgage broker), he said they are claiming a projected escrow shortage based on a $0.00 escrow balance. Problem is, I have an escrow balance of (now) over $355; they should've based it on that, not a $0.00 balance!
Called them to inquire and immediately was told my insurance and taxes went up. She recanted that when I told her they went down! She said "it's automatically done by the system." I told her "I'd walk away from the house before paying more." She said I could break up the amount over the next two years. Ummmm, no. So I wrote to them and explained that their calculations were wrong and requested they correct them. That was about a month ago. I will be reporting them and filing a complaint as well.