Fifth Third Bank / Mortage Departmentpoor customer service!

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a verified customer
Verified customer

We have been customers for at least 10 years and have not missed a payment or deadline. I called on November 27th, 2007 for a payoff balance of our mortgage. Our coupon booklet printed by the bank stated to call for a final balance. I was given an amount and therefore sent a money order to the above address dated the same day as the phone call. During the phone call, I reiterated that this is for sure the final balance of our loan and the customer service representative assured me that it was the total. He also said that we would receive a check in the mail for the balance of our escrow account, our title/deed of the house and the copy of the bank statement saying that we are paid in full. The customer service representative told me to expect all this in the mail within two weeks. I waited until December 11, 2007 and called the bank again. The customer service representative said that we still owed money for the interest accrued on the loan. When I asked if the final payment was received, the representative said the check was received on December 5th and that the check was posted wrong at the bank and that we still had a balance due on our mortgage.

I informed the representative that I called for a final balance on Nov. 27th of this year and that our booklet said to call for a final balance. The representative still said we had a final balance of interest to pay and that the person I talked to should never have given the balance over the phone, that it was to be sent via fax, or mail. I took the representative at his word and sent the check promptly. I feel that the bank was in error and that the posting of the check caused more interest to be accrued. I was all set to put the balance on our visa, but the bank hung up on me. I called the bank back right away and I talked to a different representative. This gentleman said that yes we still had an interest balance due on our account, however they could use our left over escrow monies and pay the balance and that they would send us a check for the balance to close the account. I told the representative about the run around that I received. I also told the representative that I want confirmation about the closure of our account, a check for the balance from our escrow, a copy of the statement stating that our account is now closed, and finally a copy of our title/ deed for our house.

My major complaint is that every time I called the customer service at the bank, I received different information. I also feel that the interest accrued after the check was received should NOT have been charged to our account. I feel that the bank owes us an apology and a prompt response. I have tried to call the bank to complain directly to them, but they don't seem to be listening. I hope that I don't have to wait another 2 weeks for confirmation about our closure of our account. Any suggestions?

Linda LaCross.


  • Fa
    fairwaywarrior Apr 29, 2009

    Usually, when they are talking about escrow, they are assuming that you are selling or refinancing, and in that case, a few days of extra per-diem interest is added into the payoff amount given by the bank (always, always, always by fax. Phone payoffs are never never never correct, and should not be used to judge how much to auctually pay off the mortgage.) The details of how to auctually pay off the mortgage will be on the written, faxed payoff statement. I suggest you get a faxed payoff statement sent to you, and make it good through a week or two after you request it, then send wire transfer to the wiring instructions on the statement to ensure that the funds are recieved by the lender, and your wire confirmation will be your proof that the loan was paid off ie. no waiting around for cancelled checks.

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