Wednesday, February 27, 2008

One In A Million

In the last 25 years, according to Fifth Third Bank, only two mortgage payoffs were not properly processed. We have the dubious honor of being one of the two!

We refinanced our house in January, shaving about $90 off our monthly mortgage payment, which of course is especially helpful now. But, we received a notice last Friday (dated the 15th, arriving on the 22nd) that our checking account was overdrawn due to an automatic payment on our OLD mortgage. When we looked up our accounts online, the system showed we had TWO outstanding mortgages! Naturally, we had to wait until Monay until anyone was available to correct the mistake. In the meantime, daily overdraft fees kept hitting our account, and Stephen was down to $10 in his wallet.

Finally, a credit was posted to our account this morning (12 days after the initial overdraft), but for the wrong amount. We've been promised that will be corrected soon, but at least Stephen can use the ATM immediately.

Let this be a lesson to everyone reading this - DO NOT finance through Fifth Third! Argh!

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