RV loans
I saw on another forum where RVers are making principle pyment on loans & the banks are just adjusting it as another payment & taking out interest on a principle payment. I thought it was just our ban...
Forum Discussion
rk911 wrote:
that happened to us not on our RV loan but on our home equity loan. a call to the bank corrected the error. before you start yelling about audits and calling the feds try a simple, calm and polite call to the bank. I 'spect in most cases that will result in the error being corrected.
You are right. Ask first. Several years ago that didn't work on another bank issue. We got our audit & it turned up more than the bank bargained for. My DW is a tiger when it comes to money. Soon after bank was sold. DW just sent all her paperwork on to the bank board. Sometime being nice just doesn't help. Then it is time to turn up the heat. This bank is starting to figure it out. Charginging me interest on an extra principle payment is going to get them in a lot of trouble. I thought it was just my bank loan. Nope. several banks have been doing this. This practice is not only illegal but bank fraud. They quickly understood those 2 words when my wife spoke to a supervisor. Keep in mind if you or I did these things we would be in jail.
