seems completely reasonable and fair. learn to type fat fingers. and, who pays a mortgage by phone? that's your problem right there.

of course this could be part of a larger scheme for banks to screw people over however they can, but banks would never do that they are our friends. banks just want our dreams to come true. they create possibilities.

The mistake meant that, in the precise calculus of the computer, Mudie broke his modification contract.

That's not calculus. That's addition/subtraction.

USAA, all day, everyday.

serpent_sky: Lucky LaRue: It's very hard for me to find any sympathy for this guy. Sure, the situation sucks, but if I was on a loan modification program that required me to meet exacting specifications over the term of three payments in exchange for allowing me to keep my home, I would like to think that I would be *careful* to ensure I conformed to those requirements.

He did; he realized the error, contacted the bank, and did what they told him to to fix said error. '

In fairness, they also realized their error and everyone's okay in the end, so while it sucked, it's okay now.

Awww.... I had my "outrage-ometrr" all warmed up, too!

BurnShrike: The mistake meant that, in the precise calculus of the computer, Mudie broke his modification contract.

That's not calculus. That's addition/subtraction.

cal·cu·lus/ˈkalkyələs/
Noun:
The branch of mathematics that deals with the finding and properties of derivatives and integrals of functions, by methods originally...
A particular method or system of calculation or reasoning.

Mudie paid his second trial mortgage payment by phone. The keypad mistake meant that instead of paying $615.82, he paid $615.02.

Hmm.. I can't really tell if that is a big difference or not.

He was three quarters and a nickel short.

Ah! Now I see.

Banks apparently have closer tolerances than NASA.

Where was the freakin' typo? They guy paid the wrong amount, then waiting an entire month to mail in the balance of that shortage, along with his regular payment. What is this typo that you speak of?

styckx: I've made payments over the phone doing it and got a confirmation each time. So either BOA has no confirmation or the guy is an idiot twice.

"Enter the amount you wish to pay using the keypad"

82016

"You entered an amount of $820.16.. If this is correct press 1, if incorrect press 2"

What's this paying over the phone garbage/?

Is BOA so backward they don't have internet/or automatic payments???

styckx: I've made payments over the phone doing it and got a confirmation each time. So either BOA has no confirmation or the guy is an idiot twice.

"Enter the amount you wish to pay using the keypad"

82016

"You entered an amount of $820.16.. If this is correct press 1, if incorrect press 2"

Yeah, that's the first thing I thought. On the other hand, I often just know the button that confirms it, so I hit it before the message is done. On the other other hand, they could make it so that the message has to completely play back before it accepts input again.

Kid Lester: He's got a satellite dish and he qualifies for a federal mortgage assistance program? This is an OUTRAGE! But sure, let's give him ANOTHER chance to milk the system while the rest of us play by the rules.

The dude needed a modification to pay the mortgage on that palace, but he can afford satellite tv? You're willing to give him a pass on that?

I'm willing to assume that he no longer gets satellite service, but still has the dish on his roof. But if he's paying direct TV a monthly service plan, but needs taxpayer owned Fannie to give him a $200 per month subsidy, then yeah, it is an outrage.

/also don't know the specific terms of his mod... maybe its not a full $200 subsidy.

AUAIOMRN


He was three quarters and a nickel short.

Ah! Now I see.

I am glad they cleared that up as well...I thought he was a half-dollar and three dimes short.

The most troubling thing to me about this story:

Assuming it is a 30 year mortgage $600 a month for a shack like that and he still has to live in Largo?

Thats farked up.

I refuse to believe their wasn't some audible confirmation of the amount he entered towards the end of the call.

Jon iz teh kewl: styckx: I've made payments over the phone doing it and got a confirmation each time. So either BOA has no confirmation or the guy is an idiot twice.

"Enter the amount you wish to pay using the keypad"

82016

"You entered an amount of $820.16.. If this is correct press 1, if incorrect press 2"

What's this paying over the phone garbage/?

Is BOA so backward they don't have internet/or automatic payments???

My mortgage is with BOA, I pay using their website.

But from now on, he said, he'll pay by mail

and if he writes a check for the wrong amount he's done the same thing again.

You want to know why I have my mortgage payments auto-drafted and would never dream of making one from my cell phone. But, be that as it may, the Bank of Assholes needs to be busted up.

serpent_sky:
He did; he realized the error, contacted the bank, and did what they told him to to fix said error. '


According to the article, he sent in the 80 cent check with his next payment. That suggests he waited a month. I would have had that check in the mail that day.

Jon iz teh kewl: styckx: I've made payments over the phone doing it and got a confirmation each time. So either BOA has no confirmation or the guy is an idiot twice.

"Enter the amount you wish to pay using the keypad"

82016

"You entered an amount of $820.16.. If this is correct press 1, if incorrect press 2"

What's this paying over the phone garbage/?

Is BOA so backward they don't have internet/or automatic payments???

It is pretty weird. My mortgage company just withdraws the amount each month.

This is why I always round my bills up... to the next dollar on recurring charges like utilities and usually to the next even ten dollars on loans and credit cards.

These loan modification programs are to help people underwater in their mortgages to participate in the economy with the money they'd save from modification. That is how we all benefit not just those actually receiving the modification. I know it gets "conservative" a wittle grumpy if they see a poor person getting some help but suck it up.

Andrew Wilson, spokesman for Fannie Mae, said he has heard of simple mistakes getting out of hand before. Computers, he said, see things in black and white.

And, as we all know, there is no way to make a computer do anything different when it processes a payment that's 80 cents short versus when it is a hundred dollars short. Try, and the thing will go around spewing bolts and steam and crying out ERROR ERROR ERROR in its crudely synthesized voice.

Why is there even an option to pay a different amount?

"Current payment due is $xxx.xx. Press 1 to make payment. For any questions or problems, press 0 to speak to someone." There. I just "fixed" the "problem".

So, basically, a guy who needed a loan modification to begin with was given a second chance, all he had to do was send three correct payments, he couldn't manage that, and the system booted him exactly like it should have.

Then BoA fixed it all manually for him after he got some "scary" paperwork from a computer and now he's fine.

I love me some BoA hate, but I have to believe that this is at least 90% the customer's fault this time. He was already having trouble with his mortgage then he screwed up his loan adjustment because he couldn't manage to send the proper payment three lousy times in row. When you're talking about a bank that's been known to foreclose on houses that it not only doesn't have a lien on, but there's no lien at all, this is pretty lame.

Headso


These loan modification programs are to help people underwater in their mortgages to participate in the economy with the money they'd save from modification. That is how we all benefit not just those actually receiving the modification. I know it gets "conservative" a wittle grumpy if they see a poor BLACK person getting some help but suck it up.

FTFSantorum

Though I've little love for the organization as a whole, the online banking system at BoA is outstanding.

Was it Mr. Buttle?

LordStormes: This is why I always round my bills up... to the next dollar on recurring charges like utilities and usually to the next even ten dollars on loans and credit cards.

You should round it up to the nearest 100 or 500 dollars. You should avoid making only minimum payments on revolving debt.

Shazam999: styckx: I've made payments over the phone doing it and got a confirmation each time. So either BOA has no confirmation or the guy is an idiot twice.

"Enter the amount you wish to pay using the keypad"

82016

"You entered an amount of $820.16.. If this is correct press 1, if incorrect press 2"

Yeah, that's the first thing I thought. On the other hand, I often just know the button that confirms it, so I hit it before the message is done. On the other other hand, they could make it so that the message has to completely play back before it accepts input again.

Yeah, I'm in agreement this is what might have happened. And those confirmations might be annoying if they can't be bypassed, but those times that something goes amiss you'll be grateful.

Honestly, both sides admit error, and there was a resolution reached without a major waah-fest to the media and fingerpointing at the 'big, mean bank'. I don't know what shocks me more, the fact that it was relatively painless to fix the double-sided boner... or that the issue made it into the news to begin with. I know, it's that it made it to the news...

I've made mistakes before, and have gotten things smoothed over rather easily by doing what this guy did: Call them and talk to them about it. THe bank might not have a soul or heart (It's a corporation, not a living being, afterall) but the people that work there do. If you don't call, there's no way they can help you. There may still be nothing they can do if you call, but any chance is better than no chance at all.

Burying your head in the sand does only one thing, it leaves you in the perfect position to get farked in the arse.

/BoA is still not a company I like.

Tom Mudie sent $615.02 but owed $615.82 on a modified mortgage.

From the looks of the house I'm guessing that was the entire mortgage

A Fark Handle: seems completely reasonable and fair. learn to type fat fingers. and, who pays a mortgage by phone? that's your problem right there.

This was my very first thought... If you are about to lose your house ...you better be damn sure you pay correctly, moron. And, why do people always pay the bare minimum? Jesus, just round your payment up to the nearest buck.

Also, I'm sorry to see that Ed Begley Jr. is not getting much work...

Headso: These loan modification programs are to help people underwater in their mortgages to participate in the economy with the money they'd save from modification. That is how we all benefit not just those actually receiving the modification. I know it gets "conservative" a wittle grumpy if they see a poor person getting some help but suck it up.

So you're saying by giving someone $200, some of that will trickle back to me via a stronger economy? What a great deal!

Tell you what, you send me $200 per month and I'll promise that the $200 will immediately get back into the economy through beer, scotch, or lapdance purchases. Hell I might use $5 of it for total fark, which I assume Drew Curtis would use for beer, scotch, or lapdances.

"Good" of the bank to let him keep his house. But that's probably only because they knew that if they sent his payments back and foreclosed on it, the story would be all over the news. A year ago, when banks believed they could do virtually anything involving real estate with zero consequences, this guy would have been shown no mercy.

zez: [www2.tbo.com image 541x354]

Tom Mudie sent $615.02 but owed $615.82 on a modified mortgage.

From the looks of the house I'm guessing that was the entire mortgage

615 at 5% should give you like 100 grand. I'd say the opposite and hope he doesn't owe that much on that junker in shiathole FL.

Debeo Summa Credo: Headso: These loan modification programs are to help people underwater in their mortgages to participate in the economy with the money they'd save from modification. That is how we all benefit not just those actually receiving the modification. I know it gets "conservative" a wittle grumpy if they see a poor person getting some help but suck it up.

So you're saying by giving someone $200, some of that will trickle back to me via a stronger economy? What a great deal!

Tell you what, you send me $200 per month and I'll promise that the $200 will immediately get back into the economy through beer, scotch, or lapdance purchases. Hell I might use $5 of it for total fark, which I assume Drew Curtis would use for beer, scotch, or lapdances.

um ...yeah... that's how it works...
The only difference being, if you have to spend the money (you are poor), you WILL spend the money. We also have the added bonus that these "assets" were basically already paid for by the American citizen through bailouts so, the banks literally owe them a break.

zez: [www2.tbo.com image 541x354]

Tom Mudie sent $615.02 but owed $615.82 on a modified mortgage.

From the looks of the house I'm guessing that was the entire mortgage

And that was modified down from $815 a month? Geesh, that trailer in parked in Bel Air?

Debeo Summa Credo: Tell you what, you send me $200 per month and I'll promise that the $200 will immediately get back into the economy through beer, scotch, or lapdance purchases. Hell I might use $5 of it for total fark, which I assume Drew Curtis would use for beer, scotch, or lapdances.

How about I spend it myself instead? The money these people are getting in loan modifications was money that would otherwise not be participating in the economy at the same velocity as when this guy has his unkempt mitts on it.

Jon iz teh kewl: styckx: I've made payments over the phone doing it and got a confirmation each time. So either BOA has no confirmation or the guy is an idiot twice.

"Enter the amount you wish to pay using the keypad"

82016

"You entered an amount of $820.16.. If this is correct press 1, if incorrect press 2"

What's this paying over the phone garbage/?

Is BOA so backward they don't have internet/or automatic payments???

They bought my loan from another bank. Up until January 1st, they didn't have automatic payments available in anywhere I could find on their site. About a year ago I opened a checking account just so I could deposit into it and manually transfer up to the deadline without an additional fee. Finally set up the automatic payments this month.

Just hoping taxes or insurance or similar don't change and make us drain our account - we came close earlier due to not catching that for 3 months. Right now direct deposit is set up so that we're adding an extra 3 bucks to the account each month.

/CSB

Gordian Cipher: This. I round up several hundred on my mortgage payment

what a ham and egger, I round my mortgage payment up to the nearest 100,000 and usually pay it off within a several months. I really don't know why this guy just didn't do that in the first place.

Perlin Noise: Debeo Summa Credo: Headso: These loan modification programs are to help people underwater in their mortgages to participate in the economy with the money they'd save from modification. That is how we all benefit not just those actually receiving the modification. I know it gets "conservative" a wittle grumpy if they see a poor person getting some help but suck it up.

So you're saying by giving someone $200, some of that will trickle back to me via a stronger economy? What a great deal!

Tell you what, you send me $200 per month and I'll promise that the $200 will immediately get back into the economy through beer, scotch, or lapdance purchases. Hell I might use $5 of it for total fark, which I assume Drew Curtis would use for beer, scotch, or lapdances.

um ...yeah... that's how it works...
The only difference being, if you have to spend the money (you are poor), you WILL spend the money. We also have the added bonus that these "assets" were basically already paid for by the American citizen through bailouts so, the banks literally owe them a break.

A few points:
1) taking money out of my pocket to give it to someone else doesn't help the economy, it just reduces my consumption and increases the other guy's. In this case the government will just borrow money to give this guy a break, which will help the economy in the short term but we'll have to service that debt forever, hurting the economy in the future.

But regardless, over the long term every taxpayer is going to have to contribute to pay for this guy's break, so we're not getting back what were putting in. Like it or not, this guy is benefiting at the expense of everyone else.

2) when it comes to BoA and the other big banks, the bailouts have been paid back with interest and profits. Nothing further is "owed".

3) RTFA, these mortages are owned by Fannie Mae, which is owned by taxpayers. BoA is just the servicer hired by Fannie Mae. The money for the modification is coming from taxpayers, not BoA.

Headso: Gordian Cipher: This. I round up several hundred on my mortgage payment

what a ham and egger, I round my mortgage payment up to the nearest 100,000 and usually pay it off within a several months. I really don't know why this guy just didn't do that in the first place.

Probably because there's no comma button on his phone.

Debeo Summa Credo: So you're saying by giving someone $200, some of that will trickle back to me via a stronger economy?

Yes.

If the gov't had given 100$ of Billion$ to distressed homeowners, they would have paid their mortgages.

The banks would get paid. People keep their homes.

Instead we sank 100$ of Billion$ directly into the pockets of a few thousand already-extremely-wealthy financiers. Who trickle it down by pissing on the rest of us.

/ But, but, but, some un-deserving negro might catch a break!!