Monday, October 3, 2011

Everybody wants a piece of the pie

Ramblings Post #162
It seems that nobody with any power wants to take a loss. On anything. A lot of things in this country would be better, if as I found out in in law class on corporations, greed hadn't been actually legally codified. It's a baffling mental concept, one that actually isn't new, just brought with more focus as of late. But like survivors on a life raft, chances of survival increase if you share what you have instead of hoarding. On unless the idea of everyman for himself catches on. Then we're all in trouble.

I'm being gaffled. By my mortgage servicing company. Let me explain.

I haven't written a check in ages. Because everybody takes Visa, and nearly everybody allows you to pay online. Once a month I pull out a slip of paper, write down my stock bills and pay them in order. At the end of the month I pay the mortgage. In less than 48 hours every month, every bill is paid and whatever is left I'm free to spend on gas, groceries, or the occasional drink as I see fit. Simple easy, and up until last month only the power company would tack on a three dollar fee for online processing, because a third party handled it and folks wanted to get their slice.

Then a month or so ago, my mortgage service provider changed. I had formerly been handled by Bank of America, who for reasons unbeknownst to me, moved my mortgage to a subsidiary servicing firm. Nothing changed except who I had to go online to pay.  Or so I thought, until the first payment was due.

I log on, pull up the old account information, hit the button twice because all the info is already in, then pause.

There is a $12.00 service fee to pay online.

Because I bought my house in the days of creative financing, when the phrase "You can always refinance!" was popular, so I have first and second. So in reality, it's a $24.00 service fee to pay. Online.

To process Visa costs about $0.01. To electronically move money from your account might cost $0.50. What in the hell is the other $23.00 for, exactly? Then I heard that Bank of America, the owner of this company, wants to charge you $5.00 a month for access to your own money. This would be on top of the checking account fee they already charge. So suddenly I'm not surprised.

Now, I'm good customer. I've never been late with a payment. So what gives?

That will be the subject of my call to them, because after all, for $24.00 a month from the thousands of accounts that got transferred, they're not open on weekends.

Barkeep. I need something get my nerves back to right.

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