How Much Can A Bank Charge For Late Fees On A Mortgage Loan?
I possess a mortgage payment after the due date, the bank pays me $ 50. 00 belatedly fee. That's cool. I expected it. They claimed that I skipped, because I was a payment on 30 days between payments. They wanted a coupled payment in which I can not swing. The late fee rose to $ 150. 00 per month and is already up to 254 $. 00 per month. My payment is $ 500. 00 per month. I paid them $ 1000. 00 in July to draw my payment up to date, and my monthly mortgage payment must be to meet in July. At any rate, I did not pay the late fee in full. Many banks will tack on fees until the end of the counterbalance. My bank is not and is charging me $ 254th 00 late fee on a late fee. Is this admissible? Are there limits to what they can expect? A late fee of up to $ 550 increased. 00 for the months, more than my ordinary mortgage payment. This makes it impossible to catch up. I've tried to duty with my bank, but the right hand does not know what the formerly larboard is doing. Any suggestions? This is maddening! Help!
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