I have a OCWEN account which they got from Wells Fargo about 4 years ago when figuring my balance for finally have 12 payments left on the account there was additional money after the end of the loan.
After taking with a "Manager" I was told that if your payment is made not exactly on the due date regardless of not having a late charge they manuver the interest taken from the principle to there advantage.
I tried to explain that SSI pays on the 4th Wednesday of the month and that means the payment can be made on either the 22 one month the 23rd one month, with the latest payment on the 28th of the month. Seniors have no choice on their payment date, it's based on date of birth so if you get a check on the 28th one month and your payment is the 22nd of the month they basically take a lot more interest from your principle and increases the balance due.
I have made 168 consective payments on the date of my checks but next year I expected the account to be paid off in full and have like a 2000 dollar balance upon final payment in March 2017.
My original contract with Wells Fargo saic 180 payments at $$$ amount but the contract will have a balance of $$$$. No late charges were authorized on my account but the additional $ on account averages about the same amount as a late charge, seems like a convenient way to mask a late charges although not authorized.
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