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bank of america tripled my payment Internet
15th of Nov, 2011 by User823539
For several years I have been making ontime payments to a Heloc - first with Greenpoint, then Countrywide, and now Bank of America. I received a notice last month that I would start making principle payments. Big deal - I was paying $150+/- per month to principle - how bad could it be? My typical payment was $360 and I would usually send $500. This week I got my first new statement, with a payment due of over $1100! I thought it was a mistake and called BoA. No mistake - this is my new payment amount, at least at the current interest rate. It could increase! There is no way I can make this payment, and BoA won't help me until I am 30-60 days late with my payment. This is my reward for on-time payments, I guess. So, in order to get help, I have to further ruin my credit. If there was any fairness in this, my payment would have been increased a reasonable amount - even to $600, Bank of America would have continued to receive on-time payments, and I would not be stressed out and considering bankruptcy. How does this make any sense?
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